Today, we’re thrilled to announce StreetTeam has secured $10 million in funding as part of a new round led by Spring Partners, Frontline Ventures, Kindred Capital and Backed. This investment, which was announced exclusively via TechCrunch, also introduces new strategic partners such as Universal Music Group, Saatchi Invest and Peter Davies.
Today’s investment is the next step on our journey to create the world’s leading peer-to-peer sales software. At a time when brands are facing increased competition and are struggling to drive sales, we believe advocacy offers an opportunity to acquire customers by turning word-of-mouth into a genuinely scalable sales channel.We’ve enjoyed phenomenal growth over the last 12 months, proving the effectiveness of our software in more than 14 countries and working with the world’s leading live entertainment brands to sell more than 200,000 tickets. That’s just for starters, however.
Today’s funding will enable us to continue growing within the live entertainment sector, building on our success with brands such as Bestival, Electric Zoo and Bonnaroo.
“We’re really pleased to announce today’s funding,” said StreetTeam CEO and co-founder Callum Negus-Fancey when speaking to TechCity News. “This is a great opportunity to work with the support of fantastic investors and we're going to use this capital to continue our growth.”