London-based DICE, an independent music ticketing platform, announced on Wednesday, August 23, that it has raised $65M (€60M) in a funding round led by MUSIC, an investment company focused exclusively on music and music-adjacent businesses.
Additional investors in the round include Structural Capital and Ahdritz Holding, the investment vehicle for Willard Ahdritz, founder and chairman of Kobalt Music, with follow-on investments from Exor Ventures and Mirabaud Lifestyle Fund.
Matt Pincus, CEO of MUSIC, will also join the DICE Board of Directors as a part of the funding round.
Pincus says, “DICE did the impossible: They made buying a ticket fun. And by doing that, they became much more than a transaction provider. DICE is the premier user-centric engagement platform for the most important consumers in music: people who love to go to shows.”
The announcement comes a couple of weeks after DICE laid offs employees citing restructuring behind the move. The company didn’t disclose the exact figures of those affected by the layoffs, reports Tech.eu
Fund utilisation
DICE says the funding will help it to accelerate its expansion in new cities as it continues to expand across the US and globally.
The UK company also plans to announce new partnerships in the upcoming weeks to bring a fairer and more transparent approach to ticketing live events to Austin.
Phil Hutcheon, CEO and Founder of DICE, says, “The live music industry is adopting DICE faster than ever and proves our thesis that if you treat fans well, they buy more tickets, and go out more often. We’re investing heavily in building even more technology and this year alone we released over 60 new features for fans, venues and artists. I’m excited that Matt (Pincus) has joined the Board and we’re more focused than ever on our mission to get fans out more.”
DICE also announced the appointment of Ali Byrd as its Chief Financial Officer. Ali joins DICE with a decade’s experience supporting fast-growth companies, most recently at Olive, a disruptive AI healthcare technology company based in the US.
He previously held senior positions at Microsoft, CoverWallet and Limewire. Ali will be based in New York.
DICE: Independent music ticketing platform
Founded in 2014, DICE aims to transform how fans discover and buy tickets to live events globally.
From Bicep to Brooklyn Mirage and Olivia Rodrigo to Primavera Sound Festival, the company works with artists, leading promoters, and renowned venues worldwide.
Besides live music, the company also offers fans an array of arts, culture, and lifestyle events.
The company also introduced “Group,” making it easier to connect with friends and co-ordinate going out for live events, reducing the stress of group admin and fatigue from switching between multiple apps.
The DICE app is highly personalised for each fan with a ‘Discover’ feature that recommends upcoming gigs and events just for them.
The company is operational in the UK, US, France, Germany, India, Italy, and Spain.
Willard Ahdritz, founder of Ahdritz Holdings LLC and founder and chairman of Kobalt Music, says, “I met Phil in 2015 having heard about DICE. Rolling out AWAL at that time, I needed so many more venues for all my acts to play. DICE delivers a transformative experience for all stakeholders – from fans to venues to artists and looked like the future for live music. DICE has come a long way on their vision, and today it’s even clearer that the live industry needs changing.”
01
How Gen Z affects B2B social media