Industry Press / 06.23.23
Project Admission attracts new funding; adds NFL Teams, and Top Soccer Clubs to growing roster of customers
NASHVILLE, Tenn., June 23, 2023 /PRNewswire/ -- Project Admission, the Live Entertainment Solution Platform that makes buying, selling and distributing tickets simple and intuitive, today announced that seven new major sports teams have signed on with the service since January, including the NFL teams the Tennessee Titans and Washington Commanders, and USL teams New Mexico United, Charleston Battery, Richmond Kickers and Lexington FC bringing its total client base to nearly 50 teams.
The company's accelerated growth has attracted a new round of investment, including $3.2 million in funding, led by Flyover Capital, with return investor Anthemis. New investors The Raptor Group and Scrum Ventures also joined the round bringing the total raised to $13 million.
With an extensive and flexible platform, Project Admission (PA) works directly with the live event industry to provide unique monetizing features and opportunities around the life of the ticket, adding value and simplifying the commercialization of live events. Tickets managed through Project Admission are easy to use, secure, and enhance the ticketing experience for fans, teams, venues, and ticketing companies alike.
"These partnerships and additional investment are a testament to Project Admission's novel solution – a technology platform for a multitude of stakeholders that is transforming the entire life cycle of ticking including how and where a ticket is purchased, how its distributed, and how this can ultimately benefit/uplift a fan's entire experience," said Stephen Glicken, Project Admission CEO. "The first quarter of 2023 was the seventh consecutive quarter of 20-percent-plus ticket revenue growth for us, with ticket revenue increasing by more than 440 percent annually. With the new investment, we will expand into new markets and verticals to further accelerate our growth."
"Project Admission is becoming the go-to platform for teams, venues, and artists looking to expand how and where they engage with fans," says Tristan Mace, Managing Partner at Flyover Capital. "We're excited to lead this additional investment syndicate for Project Admission as the company continues to reshape the ticketing industry."
"Throughout my time in sports and live entertainment, I've seen any number of companies come into the space promising to create needed efficiencies and increase revenue," says Chuck Steedman, Principal at Raptor Sports Capital and former EVP of Strategy & Development at ASM Global. "Project Admission is one of the few that actually has the technology and team to deliver on both those."
"Ticketing continues to constantly evolve with the ever-changing landscape that is the live event industry and Project Admission is at the forefront," says Michael Proman, Managing Director of Scrum Sports and Entertainment Fund. "While the technology is cutting edge, the approach is fundamental: make it simple for stakeholders to deliver a better experience for their fans which ultimately drives revenue and retention."
ABOUT PROJECT ADMISSION
With an extensive and flexible platform, Project Admission works directly with the live event industry to provide unique monetizing features and opportunities around the life of the ticket, adding value and simplifying the commercialization of live events. Tickets managed through Project Admission are easy to use, secure, and enhance the ticketing experience for fans, teams, venues, and ticketing companies and alike.
SOURCE Project Admission