TicketGuardian Secures $8 Million in Series A Funding
Growth round led by American Family Ventures will enable worldwide expansion, innovation in technology and additional product offerings
NEWPORT BEACH, Calif., Dec. 17, 2018 /PRNewswire/ -- TicketGuardian announced today an $8 million Series A funding round led by American Family Ventures and IA Capital Group. The industry leading insurtech company will use the capital to fuel the growth of the technology, products and services it provides to event organizers and ticketing platforms, as well as to the attendees and fans for which the industry exists. This new round brings total funding to $13 million to date.
"This new injection of capital will enable us to grow our company, our services and our customer base," said TicketGuardian CEO and founder Bryan Derbyshire. "Along with the expertise of our investors, it allows us to continue our innovation and remain the insurtech thought leader in the live event space."
TicketGuardian entered the market to improve one aspect: enhancing the attendee and fan experience by providing an option to protect their tickets. While doing so, it also built industry leading enterprise level technology.
"We now securely power real decision-making data to ensure the best experience across the board for our partners and their attendees," said Derbyshire. "Our exponential growth is proof that the live events industry is begging for change. This industry has responded with open arms and is embracing a better customer experience."
"We are extremely excited to be partnering with TicketGuardian as it has built the first live events industry-focused insurtech platform," said Drew Aldrich, Principle of American Family Ventures. "TicketGuardian is fundamentally reshaping the way that live event ecosystems protects their investments. We are excited about its vision, technology and the incredible opportunity. We're thrilled to join with them to continue to enable their significant growth."
TicketGuardian is at the forefront of an important turning point in the live events space. Every year consumers lose money after buying more than 1 billion tickets to concerts, festivals, sports and other live events they can't attend. An attendee can easily insure their purchased ticket, registration or booking through TicketGuardian's FanShield suite of products. Currently, TicketGuardian is powering attendee protection approximately every 45 seconds.
"TicketGuardian embodies the future of insurtech, providing a frictionless customer experience and peace of mind while augmenting the enterprise technology of its key platform partners," said Matt Perlman, Principal at IA Capital.
As TicketGuardian rolls out its proprietary control mechanisms into the live events industry, the future of ticketing refund, exchange and secondary markets will expand beyond no refunds or secondary sales only – offering not only fans, but also organizers and their platforms, control over additional ticket sales, customer data and engagement.
Since launching, TicketGuardian has expanded to 40 employees. It partners with dozens of platforms such as Provenue, Accesso Showare, Showclix, events.com and others that power tens of thousands of events that sell more than 100 million tickets and registrations every year. TicketGuardian is also the title sponsor of the TicketGuardian 500, a NASCAR race held at ISM Raceway in Avondale, Ariz., March 10, 2019.
TicketGuardian is a protecht, inc. company focusing on using technology to create a more sustainable live-events ecosystem. TicketGuardian powers technology for its wholly-owned insurance subsidiary, FanShield LLC, which includes several insurance products including FanShield, RegShield, TourShield and EventShield.
About TicketGuardian
TicketGuardian is the insurtech leader in the live events space powering a better fan experience by connecting platforms, venues, and event organizers, with fans. By providing real-time data and analytics, TicketGuardian powers control over inventory, customer service, strategic marketing and, ultimately, the fan experience. For more information, visit www.ticketguardian.net.
About Protecht, Inc.
Protecht, Inc. is a technology leader committed to building a better experience in the world of live events. Protecht, Inc is a privately held company headquartered in Newport Beach, Calif. For more information, visit www.protecht.io.
About FanShield
FanShield, LLC is a licensed insurance agency wholly-owned by Protecht Inc. FanShield offers low-cost consumer and event protection in the live-events industry, protecting attendees and organizers from financial burden. FanShield insures tickets, registrations, and events including music, sports, endurance, conferences and more. FanShield powers peace of mind by bridging the gap between experience and the non-refundable world of live events. For more information visit www.fanshield.insure.
About American Family Insurance
Madison, Wisconsin-based American Family Insurance group is the nation's 13th-largest property/casualty insurance group and ranks No. 311 on the Fortune 500 list. The company sells American Family-brand products, including auto, homeowners, life, business and farm/ranch insurance, primarily through its exclusive agents in 19 states. American Family affiliates (The General http://www.thegeneral.com/ and Homesite http://www.homesite.com/) also provide options for consumers who want to manage their insurance matters directly over the internet or by phone. Web www.amfam.com Facebook www.facebook.com/amfam Twitter www.twitter.com/amfam
About IA Capital Group:
IA Capital Group is a New York-based investment firm focusing on early and growth stage investments in insurtech companies with a nearly two-decade-long venture capital track record. The firm manages over $100 million of dedicated capital from leading insurance companies to make strategic insurtech investments in North America. http://www.iacapgroup.com/
SOURCE TicketGuardian
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