Ticketing app Gametime raises $20 million in Series B round of funding
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Gametime announced a Series B round of funding totaling $20 million on Wednesday.
New investors to the last-minute ticketing app included GV (formerly Google Ventures), Evolution Media Partners and the Stanford StartX Fund. Existing investors Accel, San Francisco Giants co-owner Jeff Mallet and sports agent Casey Wasserman also participated in the round.
“We believe living in the moment makes all the difference,” Brad Griffith, CEO and Founder of Gametime, said in a statement. “Our last-minute marketplace represents the antidote to the cumbersome buy-months-ahead experience. We simply offer a much different experience than buying ahead.
“Millennials, specifically, love that they can buy in two taps, especially when they’re mobilizing friends just minutes before start time. This funding will help us continue on our steep trajectory, as we pioneer the last minute into the next big category in our industry.”
According to Gametime, which launched its iOS app in 2013, 80 percent of its transactions take place within seven days of an event, with 50 percent of those coming on the day of the event.
Since it raised a Series A round last May, Gametime has doubled its staff to 70 employees and provided tickets to over 1,400 sports teams, concerts and other live events in 50-plus markets across the United States and Canada, including Chicago, Boston, San Francisco, Dallas and Las Vegas. Additionally, app installations have increased 500 percent over the same time period. It is projecting 250 percent year-over-year growth in 2016.