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Ticketing platform Gametime generated US$30 million in a funding round involving co-managing partner of the Philadelphia 76ers and New Jersey Devils David Blitzer, San Francisco Giants owner Jeff Mallet, and Golden State Warriors owner John Burbank.
The funding round also involved numerous other firms and influential individual investors.
The investment, according to Gametime, would speed product development and broaden its attempts to engage younger ticket purchasers.
Gametime, an aggregated tickets marketplace aimed at last-minute customers, announced that it has already produced more than $1 billion in sales since its inception and that its growth is rising. The business expects sales to hit $500 million in 2022, with 10 of Gametime's top revenue days falling in that year.
According to Statista, ticketing revenue for music and sporting events alone could reach US$54 billion globally in 2022, representing a 142% increase from five years ago and a 443% increase over 2020, when the pandemic halted events for nearly nine months, reducing industry revenue to just US$12 billion.
According to Gametime CEO Brad Griffith, the investment allows them to fast speed product development and continue to assist teams, leagues, and artists in their recovery from a difficult few years.
Gametime, according to Jeff Mallett, principal partner of the San Francisco Giants and chairman and co-owner of the Vancouver Whitecaps, makes it exceptionally quick and easy to link fans with events.
