Seatwave raises €12m

Ticket exchange web company Seatwave has raised US$17m (€12m) from a host of VCs for its series D funding round led by the London team of Accel Partners.

The deal was headed by Accel’s Sonali De Rycker, who helped to found Seatwave during her time at Atlas Venture. She takes up a board position following the latest investments.

Accerl is joined by Fidelity Ventures, Atlas Venture, Mangrove Capital Partners and Adinvest, the investment vehicle of serial entrepreneur and business angel Oilver Jung, in the round.

Seatwave is a UK-based company which provides fans with an exchange to buy and sell tickets for live music, sport, arts and a range of other activities. It has local businesses in its home market as well as Germany, Spain, Italy and the Netherlands.

Found in February 2007 by Jo Cohen, who has held senior positions at online ticketing giant Ticketmaster and dating site, and Atlas, the company has seen revenue rise 2,203% over the last three years.

Joe Cohen, ex Ticketmaster and ex <> and early stage Venture Capital firm, Atlas Venture.

Seatwave has pioneered the European ticket exchange category and established itself as a trusted consumer brand in the live entertainment space. The company continues its core mission of providing safe and rationally priced tickets for fans of live music, sport, arts and a host of activities. Seatwave operates local businesses in the UK, Germany, Spain, Italy and the Netherlands.

It has raised a total of a little over €36.5m in its short history.