E27.CO: Global online ticketing platform Peatix has raised US$5 million in Series B funding led by DG Incubation, the investment subsidiary of Digital Garage. SPH Media Fund, the corporate venture fund of Singapore Press Holdings and Japanese media company Sunny Side Up also invested in this round. Existing investors from the Series A round Fidelity Growth Partners Japan and Draper Nexus also participated in the round.
The new funding will help Peatix enhance its mobile and event discovery technology. It will also use the funding to improve the way sponsors reach out to event attendees, and expand and establish a local presence in new markets.
“The funding will have a large impact on our growth plans, as we can now invest in more product features, particularly in mobile event discovery. Also, we anticipate increased media coverage of the various events on Peatix through our media and investment partners SPH and Sunny Side Up,” Taku Harada, CEO of Peatix told e27.
Launched in May 2011, Peatix operates globally through its physical presence in Singapore, Tokyo, New York, and most recently, Kuala Lumpur. Peatix’s mobile-focussed solution for event ticketing has served over 50,000 events with more than 1.2 million tickets sold across 26 countries since its inception in May 2011.
Event organisers using Peatix include TEDx, Amazon Web Services, The Necessary Stage, KU DÉ TA, and a host of individuals organising independent events like the world’s first sports and music event, The Adult Playground, and workshops by Singapore’s urban farming champions Edible Gardens, shared an official release.