Vendini Raises $20M
May 31, 2016
Event management and ticketing startup Vendini raised $20 million in funding, hoping to fill the void between Eventbrite and Ticketmaster.
Level Equity led the Series A round. This is the first public venture round for the San Francisco company, which boasts that it bootstrapped its way to $1 billion in gross ticket sales since it was founded in 2001.
CEO Mark Tacchi founded the San Francisco-based startup to manage ticketing for mid-size live-events. Tacchi worked under Steve Jobs from 1993 to 1997 at Next, Jobs’ computer company which was acquired by Apple for $400 million in 1997.
“There’s an entire segment of live event venues not getting the solutions and support they need,” Tacchi said in a press release. “Since the beginning, it was never about just ticketing software for us — it’s always been about building a cohesive, all-in-one system. We’re excited to keep building, innovating and giving organizations the tools they need to compete and succeed, and this round of funding lets us do that faster.”
The company hopes to capitalize on venues and organizations that are too small to use Ticketmaster’s platform, but need more functionality than provided by newer platforms like Eventbrite. Vendini now works with more than 4,000 of these historically underserved, mid-range venues, including festivals, live music and nightclubs, museums, comedy clubs, sports arenas and universities.
Vendini will use the new funding to hire more talent, enhance the current platform and add more features and functionality.
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