DICE, the UK-based music discovery and event ticketing platform, announced this week that it has secured $122 million in a Series C funding round. The investment was led by SoftBank Vision Fund 2, with additional investments from Future Shape, Blisce, and others.
“We believe DICE’s technology has the capacity to transform the future of live entertainment,” said Yanni Pipilis, Managing Partner for SoftBank Investment Advisers. “Alongside the flexibility and security of seamless ticketing, the platform connects fans, artists and venues in a completely new way… We are excited to partner with DICE to help create remarkable event experiences for fans all over the world.”
DICE bills itself as a business built on “fixing” ticketing, promising a “transparent ‘fan-first’ model and a mobile-first platform that has prevented scalping.”
The company’s mission is to bring people together to enjoy shows. DICE makes it easy for fans to discover and buy tickets to live and live stream shows in seconds. DICE has clear upfront pricing, and features such as refunds on sold-out shows and a popular “Waitlist” feature that provides diehard fans with access to the most popular concerts and ensures that venues are at capacity, which in turn increases their revenue. Additionally, artists no longer lose out on ticket sales as the company prevents secondary resale of tickets through its innovative technology.
Its funding round is expected to be put to use in expanding its artist outreach and bringing on new staff, as well as launching an artist development platform.
“DICE is rewiring the live experiences industry. We have proven that if you treat fans well, they go out more,” said Phil Hutcheon, CEO and Founder of DICE “We’re overhauling an unfair, inefficient system by pioneering a transparent, data-led, fan-first approach – building a scalable ecosystem that helps artists, promoters and venues thrive. To have SoftBank as a partner enables us to expand into every market.”
Dice was founded in 2014 and touts working relationships with acts including A$AP rocky, Bicep, Nick Cave and Primavera Sound Festival. It says that it will be working with just shy of 50,000 artists and creators at its current rate of growth by the end of 2022. The full press release announcing the DICE funding round is available here.