True Tickets Announces $5 Million Funding Round Led By Logitix True Tickets Announces $5 Million Funding Round Led By Logitix
True Tickets announced a significant round of funding, bringing in $5 million of seed funds this week. Logitix was the leading investor in the... True Tickets Announces $5 Million Funding Round Led By Logitix

True Tickets announced a significant round of funding, bringing in $5 million of seed funds this week. Logitix was the leading investor in the round, which the company says will be used to optimize its existing product teams and to accelerate new feature development, including hopes of expanding into professional sports.

“This is a major milestone and validation of everything we’ve done so far,” said Matt Zarracina, CEO of True Tickets in a release announcing the funding round. “From a growth perspective, we now have a partner in Logitix that will help us pursue the broader in-person events space. Our controlled distribution capability allows venues to place more rules around how fans access in-person events and do so at scale. Combined with Logitix’s suite of solutions, to include pricing and analytics, we can create a truly differentiated market offering to deliver exceptional in-person experiences for every fan from start to finish.”

True Tickets touts itself as a way for teams and event operators to have a more complete understanding of who attends their events, even if tickets have been transferred by the original purchaser. Its previous backers include The Shubert Organization, The Tessitura Network and Broadway Beta Ventures.

Logitix is a ticket services platform that touts four core services for its clients – inventory management and pricing optimization; distribution and fulfillment; ticket exchange; and data insights. It was rebranded as Logitix in the last year after previously operating as Dynasty Sports & Entertainment and Auto Processor.

“As the leader in optimizing ticket sales for all rights holders and creating more opportunities for fans to attend live events, Logitx is always looking to surround ourselves with innovators and disruptors,” said Stu Halberg, CEO at Logitix. “True Tickets has a solution that already flawlessly processed hundreds of thousands of transactions using IBM blockchain’s technology. Together, we’re showing the future of ticketing has arrived.”