Investment round includes SPH Media Fund, led by Digital Garage.
SINGAPORE, March 17, 2015 /PRNewswire/ — Peatix, a global online ticketing platform, today announced a US$5 Million investment from strategic investor SPH Media Fund, the corporate venture fund of Singapore Press Holdings Ltd.; lead investor DG Incubation, the investment subsidiary of Digital Garage; and Japanese media company Sunny Side Up Inc. Existing investors from the Series A round, Fidelity Growth Partners Japan and Draper Nexus, also participated in the round.
With more than 1.2 million tickets sold from over 50,000 events, Peatix is reinventing event ticketing with patent-pending mobile technology and an innovative business model that is not reliant on ticket buyer booking fees. In 2014, Peatix more than doubled its tickets sold from the previous year. This fast growth and success is fuelled by their strong emphasis on having a localised approach to community building, and in being a user-friendly and affordable ticketing technology for both larger companies and emerging, small-scale organisers.
"We are very humbled by Peatix’s immense growth in the Asian market. With our new strategic partners SPH Media Fund and Sunny Side Up we look forward to scaling the business even further and reaching new and untapped audiences. It’s very exciting to be a part of the SPH Media Fund which is going on a journey from traditional media to investing in new technology," says Peatix’s CEO Taku Harada.
SPH Media Fund is equally thrilled, with CEO Chua Boon Ping stating, "We identify with Peatix’s vision to build communities around events and believe in the ability of the founders and their team to scale this platform across various markets. At the same time, SPH also has business units in events and there are direct synergies and possible opportunities for collaboration in the future."
Lead investor Digital Garage, with President and Group CEO Kaoru Hayashi also said, "We are an early investor in Peatix, and decided to take a step further by participating in this round. Their service is not merely about making event management more efficient; it has many possibilities including targeted advertising with behavioral data. We look forward to supporting Peatix, and their aspirations to grow not only in Japan but around the globe."
The new funding will help Peatix enhance their mobile and event discovery technology. Peatix will also use the funding to improve the way sponsors reach out to event attendees, and expand and establish a local presence in new markets.
Launched in May 2011, Peatix operates globally through its physical presence in Singapore, Tokyo, New York, and most recently, Kuala Lumpur. Event organisers using Peatix include TEDx, Amazon Web Services, The Necessary Stage, KU DE TA, and a host of individuals organising emerging independent events like the world’s first sports and music event, The Adult Playground, and workshops by Singapore’s urban farming champions Edible Gardens.
Peatix’s innovative, mobile-focused solution for event ticketing has served over 50,000 events with more than 1.2 million tickets sold across 26 countries since its inception in May 2011. From concerts to conferences, and everything in between, Peatix empowers organisers while enriching the event experience for attendees through social interactions and event discovery in its mobile applications and innovative new solution for event check-ins, ColorSync.
About The Investors
DG Incubation: Lead Investor
DG Incubation is the investment segment of Digital Garage, Inc., a company that provides various information technology solutions in Japan and internationally. The Incubation segment invests and incubates in prospective Internet startups; provides support to Internet business entrepreneurs; offers software development solutions; and develops media business. Digital Garage, Inc. was founded in 1994 with the Director of the MIT Media Lab, Joi Ito as one of its Board of Directors, and is headquartered in Tokyo, Japan.
SPH Media Fund
SPH Media Fund is the corporate venture capital fund of Singapore Press Holdings Ltd ("SPH"), Asia’s leading media organisation listed on the Singapore Stock Exchange. The fund size totals S$100 Million. They have a global mandate to invest in early-stage innovative companies in the areas of Digital Media (including advertising technology and content aggregation/ distribution/ consumption) and Consumer Internet (including e-commerce, marketplaces, social media, education technology, financial technology, etc).
Sunny Side Up
Sunny Side Up Inc. engages in public relations (PR) business in Japan. The company’s PR services include consulting, publicity, PR events, PR office operations, digital communication, blogger relations, cross-media communications, media relations, influencer casting and relations, corporate branding, corporate communication, crisis management, and public affairs/government relations. It also manufactures publicity goods. In addition, the company provides interactive services, such as support for Web communication and development of collaborative service media; and promotion services comprising PR events and sales promotion events, as well as in-store promotions and sports events. Further, it offers content development, sales promotion, and social services, as well as sports services for athletes. The company was founded in 1985 and is headquartered in Tokyo, Japan.
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