TodayTix has raised a $73 million funding round led by private equity firm Great Hill Partners, the ticketing company announced Thursday.
With the new funding, TodayTix plans to buy out many of its previous investors, having raised two previous funding rounds from venture capital firms, as well as expand into different geographic markets and into areas beyond Broadway shows and other kinds of theater.
The decision to cut down on the number investors came as “an organic part” of the TodayTix “investor base and lifecycle,” TodayTix chief executive and co-founder Brian Fenty wrote in an email to Broadway News. He noted that Great Hill Partners were brought in as investors in order to provide the “necessary guidance and support to scale across new markets (and at an accelerating pace).”
After buying out previous investors, the remaining investment money will be focused on “talent, technology and product,” Fenty wrote.
“Much of this innovation and investment is around personalization and discovery, to give consumers access to premium content and more tailored experiences,” he wrote. “For partners, there’s a tremendous push to build better analytics and insights, driving more thoughtful connections between audience and producer. “
The company will also continue to grow into different geographies, Fenty wrote. TodayTix is currently available in 15 markets, including New York City, London’s West End, Toronto, San Francisco, Los Angeles, Seattle, Washington DC, Chicago and Australia.
Outside of the Great Hill-led round, TodayTix has raised an additional $17 million. In total, TodayTix has raised more than $100 million since it began in 2013.
