Ticketing Company DICE Announces $65 Million Funding Round

The “world’s largest independent music ticketing platform” is raising capital to take a shot at the big dogs, with DICE announcing a $65 million funding round. A significant portion of that comes from MUSIC, a holding company founded by Matt Pincus and LionTree. Pincus will join DICE's board of directors after the round. Other investors include Structural Capital, Ahdritz Holding LLC, Exor Ventures and Mirabaud Lifestyle Fund.

Why it's important: As an indie competitor to Live Nation/Ticketmaster, DICE offers venues, artists and fans another option in the live concert business, showing everyone a different way of running the industry. Mostly that seems to mean focusing on giving customers a positive experience when buying tickets to a thing they’re already excited about – crazy, right?

Who are they? Launched in 2013, DICE has exclusive deals with many venues and festivals across 30 global cities. Their US division recently announced deals with Newport Jazz Festival and Newport Folk Festival. The company claims to have “millions of fans using the platform to discover and attend live events,” and expects “over 55,000 artists and 10,000-plus venues, festivals, and promoters will use DICE” this year.

Their new money will be used to expand into new cities, including Austin, Texas and to support “product investments aimed at creating the best fan experience.”

What they’re saying: “The live music industry is adopting DICE faster than ever and proves our thesis that if you treat fans well, they buy more tickets, and go out more often,” said DICE CEO and founder Phil Hutcheon. “We’re investing heavily in building even more technology and this year alone we released over 60 new features for fans, venues and artists.”