As reported recently, ShowClix has raised an undisclosed round of funding from Pittsburgh Equity Partners.
ShowClix is an online ticketing company that provides performing arts centers, nightclubs, live music venues, and colleges and universities an affordable way to sell event tickets online, over the telephone or in-person through a point-of-sale/box office system. Live Nation Entertainment, the result of a merger between Ticketmaster and Live Nation earlier this year, is obviously the 500 lb. gorilla in the market. Even with this additional funding, ShowClix has an uphill battle to fight – but it’s not like there’s a lot of love lost for Ticketmaster. It seems like they are on the right path, focusing right now on affordable solutions for smaller, less traditional venues.
According to ShowClix co-founder Joshua Dziabiak, the round “ultimately totaled between $750k and $1.5m”, though as of last week it looks like $570k (out of $850 total) had been secured. Unfortunately, we don’t know more than this – the filing does not reveal who the other investors were, if any.
They intend on using the money to aggressively expand headcount, “hiring account managers, sales people, customer service reps and a COO” by the end of the year, as well as relocate from their Oakmont offices.
This is, to my knowledge, the first investment made by Pittsburgh Equity Partners. PEP is an early-stage venture firm that come out of a competition created by Innovation Works, Carnegie Mellon, Pitt, and the PA Dept of Community & Economic Development.
It is not clear whether Innovation Works, who has put in $400k collectively in previous rounds, has participated in this round – but given their goal of creating jobs in the region, it certainly wouldn’t surprise me.
