Christopher BarrettIndependent music ticketing platform DICE has raised $65 million (£51.3m) in a funding round led by MUSIC, the investment company co-founded by Matt Pincus and LionTree. Pincus will join DICE’s board of directors.
Other investors include Structural Capital and Ahdritz Holding LLC, the investment vehicle for Willard Ahdritz, founder and chairman of Kobalt Music; with follow-on investments from Exor Ventures and Mirabaud Lifestyle Fund.
DICE said the round of funding will accelerate its global expansion, support further partnership, and the launch of new products this year.
The company has also announced the appointment of Ali Byrd as chief financial officer, who was most recently at Olive; an AI healthcare tech company based in the US.
The funding round follows recent deals with London venues Alexandra Palace and the Institute of Contemporary Arts, along with the recent renewal with Troxy.
DICE CEO and founder Phil Hutcheon said, “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. We’re investing heavily in building even more technology and this year alone we released over 60 new features for fans, venues and artists. I’m excited that Matt [Pincus] has joined the Board and we’re more focused than ever on our mission to get fans out more.”
Earlier this summer, Hutcheon joined President Biden at the White House to discuss DICE’s efforts to provide transparent and fair ticket pricing. He said, “It was an honour to be part of the discussion with President Biden and we are proud to be part of the Fix The Tix coalition. Doing the right things for fans is always our priority at DICE.”
Launched in 2014, DICE said this year will see more than 55,000 artists, 10,000 venues, festivals and promoters, use the platform to sell their tickets.