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BPV Invests in Birmingham-based TicketBiscuit
Birmingham tech company lands $5M investment
Posted October 17th, 2016 by Birmingham Business Journal
One of Birmingham’s fastest growing companies has landed a $5 million investment from Ballast Point Ventures.
TicketBiscuit, an online ticketing and event management software company, announced the investment Monday. The company plans to use the funds to “grow its sales force, bolster marketing efforts and develop additional technology products.”
“This investment opens up serious growth opportunities for us,” CEO Jeff Gale said in a release. “Our team has worked relentlessly to build and support cutting edge technology and provide the best ticketing experiences on the planet. With this funding, we will be able to double down on our investments in talented people and bold strategies.
Founded by Gale in 2001, TicketBiscuit company processes more than $100 million in ticket sales annually for customers like music venues, festivals and event centers. In 2015, TicketBiscuit launched StateChamps, a software suite targeted for high school and amateur athletics.
Ballast Point Ventures, a Tampa-based venture capital and growth equity firm, previously invested in Birmingham-based Prepaid Technologies.
Ballast’s Robert Faber will join TicketBiscuit’s board of directors. Faber also serves as board observer at Prepaid Technologies.
“TicketBiscuit’s industry-leading position in online ticketing is a testament to the vision and platform developed by a great team over several years,” Faber said in a release. “Under Jeff Gale’s leadership, the TicketBiscuit team has had great success to date, and this investment dovetails well with our strategy of partnering with talented entrepreneurs who are building high-growth companies across the Southeast and Texas. We are excited to partner with Jeff and his passionate team at TicketBiscuit to continue building a leading technology company in Birmingham. TicketBiscuit represents our second investment in Birmingham in 2016, and we are excited to continue building our network in this market where a vibrant ecosystem of technology and health care companies has developed.”
TicketBiscuit employees around 50 people in Birmingham and Portland, Oregon. The company announced earlier this year it would be relocating from Riverchase Parkway to a new facility off Valleydale Road.