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Accel leads $238m SeatGeek funding round at £1bn valuation

SeatGeek has raised $238 million as part of a Series E financing round led by long-time investor Accel, with participation from Wellington Management, Arctos Sports Partners, and Ryan Smith, founder and executive chairman of Qualtrics and founder of Smith Entertainment Group (SEG) which includes the Utah Jazz.

SeatGeek has raised $238 million as part of a Series E financing round led by long-time investor Accel, with participation from Wellington Management, Arctos Sports Partners, and Ryan Smith, founder and executive chairman of Qualtrics and founder of Smith Entertainment Group (SEG) which includes the Utah Jazz.

The investment values the business at $1 billion on a pre-money basis and comes after SeatGeek exceeded all 2021 public financial forecasts and is on track to more than double revenue in 2022. 

SeatGeek will use the new capital in a number of ways, including continued investment in its people, product, and partners, and further investing in several key areas such as Rally, its personalised event-day experience platform; SeatGeek Swaps, the first return policy offered by a major ticketing platform; and its enterprise ticketing software which supports the entire ticketing ecosystem by offering an end-to-end solution for teams and venues. 

SeatGeek powers over 200 clients across sports and entertainment including the New Orleans Saints, Dallas Cowboys, Arizona Cardinals, NBA’s Brooklyn Nets, Cleveland Cavaliers, New Orleans Pelicans, Washington Commanders, and Jujamcyn Theaters’ five Broadway theaters in New York.

The company also has league-wide agreements with the National Football League (NFL) and Major League Soccer (MLS), and tickets half of the English Premier League (EPL) in the UK, including Liverpool FC and Premier League Champions Manchester City FC. 

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