The round was led by Tiger Global Management, which previously led Eventbrite’s $50 million Series E. New investor T. Rowe Price also participated. In the funding press release, CEO Kevin Hartz argues that “live experiences are the new luxury good” and describes the round is “the most efficient way” to scale Eventbrite globally “while remaining totally focused on our users.”
Last month, the company said that it had processed more than 100 million tickets since its founding in 2006, for $1.5 billion in cumulative sales. One-third of those sales occurred in the previous nine months.
“Kevin and his team have built a sustainable business that not only captures real value, but also uncovers new sources of revenue at very low cost,” said Tiger Global partner Lee Fixel in the release. “We are pleased to increase our investment in Eventbrite to help the company further expand its tools and platform.”
Eventbrite says it has now raised a total of $140 million.