Charged.fm, a ticketing marketplace which emphasizes social tools to drive sales, has just secured $750k from an undisclosed angel investor and $250k from Goldman Sachs’ Urban Investment Group and Seedco Financial. Today’s investments come four years after an initial $3M in funding from the startup’s founder and CEO, Yves Darbouze, and are set to be quickly followed by an upcoming Series A financing round of $3M+.
According to Charged.fm, the newly raised $1 million will be used towards “the company’s growth plans in the areas of marketing, personnel, business and product enhancement.” At the heart of the startup’s service is what it calls its “patented social ticketing functionality,” which helps it compete in the “social commerce ticketing space.”
Don’t let that description fool you, however, as Charged.fm clearly states that it is going after the “$32B ticketing industry.” Social or not, the company seems well aware that it has to compete with giants like Eventbrite, and even makes direct comparisons across its site.
Given Charged.fm’s current plans, the company appears to have a lot more development in the works, and is looking to simultaneously take on the primary, secondary and local ticketing market. That’s a war that will not be won easily, but hopefully for the company, $4M in investments will open new doors.
Image credit: Thinkstock
Pssst, hey you!
Do you want to get the sassiest daily tech newsletter every day, in your inbox, for FREE? Of course you do: sign up for Big Spam here.