FANIMAL DRAWS $4M IN LATEST FUNDING ROUND LED BY BULLPEN CAPITAL

Innovative Live Events Platform Offers Game-Changing Exclusive "Group Purchase" Ticketing Technology

SANTA MONICA, Calif., May 24, 2022 /PRNewswire/ -- Social group ticketing platform Fanimal continues to break ground in the ticketing space as the company announces today an acquisition of $4M in its latest round of funding. Led by Bullpen Capital with early investments from Burst Capital and Pear VC, the Los Angeles-based startup Fanimal launched in 2019 to make ticket buying a more social and risk-averse experience.

"Nobody goes to live events alone, but the only way to buy tickets is alone. We've changed that. Our group purchase technology has made buying tickets part of the social experience, less about the transaction and more about who you're going with," says Jonny Halprin, Fanimal CEO and co-founder.

On the Fanimal platform, there is no longer the need for one person to bear the financial burden of buying a bunch of tickets up front. Fanimal uses a patented group purchase ticketing technology, allowing fans to create a group with a specified minimum size for a concert, with each individual member of the group paying for their ticket once that minimum is met (additional members can be added thereafter).

"Fanimal approaches event ticket purchasing from a fundamentally differentiated framework," Ann Lai, general partner at Bullpen Capital explains."These days, we go to events craving in-person social experiences. Fanimal has proven that people do not want to buy alone, and these purchasing groups naturally evolve into the foundations for ephemeral, event-based social interactions, from chatting about the event, to organizing logistics, exchanging playlists, sharing photos, etc." 

Fanimal further enriches the user experience for fans with a number of features that go beyond the transactional aspect of buying a ticket – most notably, a messaging product that allows group members to not only coordinate logistics surrounding the event itself, but also send each other GIFs and discuss all the other details of their unforgettable experience. 

Fanimal's price transparency and unique group purchase model has fueled explosive growth of adoption among fans, as the platform's user base grew by an order of magnitude in 2021. The company launched in January of 2020, endured the industry-cancelling pandemic, and since inception, has raised a total of $6M in venture capital funding.

"This new capital injection will allow us to accelerate our product development.  Before long, the group buying experience will be much more powerful because it will be taking place in a mobile app," says Halprin.

Fanimal is also expected to launch a set of event organizer tools allowing venues and promoters to directly benefit from group purchase technology through primary ticketing services. 

First-time "fanimals" can visit www.Fanimal.com to sign up for an immediate $20 credit towards a ticket purchase.

About FANIMAL
Founded in 2019, FANIMAL enables extraordinary experiences for groups attending live events through an online ticketing platform. With zero hidden service fees, FANIMAL provides fans experiences at the lowest price possible while providing an exclusive social group purchasing function to make planning with friends easy. The technology startup was built out of the Pear VC accelerator program, and in three short years, has drawn in a total of $6M including Bullpen Capital, Burst Capital and Pear VC.

SOURCE Fanimal Inc.