DICE, the music discovery and events ticketing platform, has announced that it has raised up to $122 million in Series C funding. The round was led by new investor, SoftBank Vision Fund 2, with follow on investments from Tony Fadell’s Future Shape, Blisce, French entrepreneur Xavier Niel, Mirabaud Private Equity, Cassius and Evolution.
“We believe DICE’s technology has the capacity to transform the future of live entertainment,” said Yanni Pipilis, Managing Partner for SoftBank Investment Advisers. “Alongside the flexibility and security of seamless ticketing, the platform connects fans, artists and venues in a completely new way… We are excited to partner with DICE to help create remarkable event experiences for fans all over the world.”
With the additional funding, DICE will grow the company by expanding reach to artists, fans and venues, while hiring new team members, adding to its live stream offering, and launching an artist development program.
“DICE is rewiring the live experiences industry. We have proven that if you treat fans well, they go out more,” said Phil Hutcheon, CEO and Founder of DICE “We’re overhauling an unfair, inefficient system by pioneering a transparent, data-led, fan-first approach – building a scalable ecosystem that helps artists, promoters and venues thrive. To have SoftBank as a partner enables us to expand into every market.”
“We began working with DICE as soon as Bicep started doing live shows in London. They encouraged us to sell tickets direct to the fans on the app and to trust the data allowing us to invest in the event rather than extra marketing. We plotted out a strategy, selling out quickly, delivering exponential growth show by show. This has allowed us to stay independent and choose our partners. It has worked amazingly for the artist, our fans, partners and label. We’re excited to use the DICE model globally, hopefully building similar success in all of our key markets,” Oli Isaacs, Manager of Bicep, commented.
Tony Fadell, iPod inventor and iPhone co-inventor, is joining the DICE board to support further platform development and expansion into venues.
“The concert business is a tangled mess of archaic tools and taxing ‘industry standards’ where artists are paid last. Venues shell out for marketing and are beholden to ticket conglomerates. Fans have to hunt for shows and regularly buy overpriced tickets from secondary markets or scalpers. This doesn’t make sense!” said Tony Fadell, inventor of the iPod. “DICE re-engineers the entire live industry, not just a part of it: Venues are connected to fans and artists. Artists get transparency, access and control. Fans easily discover local shows and global live streams, and buy scalper-safe tickets with a single click. I’m ecstatic to be joining the DICE board and to be part of another entertainment revolution.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.