Entertainment Startup DICE Secures $122 mln In Series C Funding

DICE, an entertainment startup based in London, has closed a $122 mln Series C funding round to continue expanding its event ticketing and music discovery platform.

Led by SoftBank Vision Fund 21, the round also counted with participation from other investors such as Future Shape, Mirabaud Private Equity, French businessman Xavier Niel, Evolution, Cassius, and Blisce. Yanni Pipilis, Managing Partner at SoftBank Investment Advisers, said about the firm’s participation:

“We believe DICE’s technology has the capacity to transform the future of live entertainment. Alongside the flexibility and security of seamless ticketing, the platform connects fans, artists, and venues in a completely new way… We are excited to partner with DICE to help create remarkable event experiences for fans all over the world.”

Founded in 2014 with the mission of connecting people who are looking to discover, buy tickets, and assist shows, as well as discover new music, DICE has provided a platform that makes it easy for fans to do just that in a few seconds. The startup builds a transparent model with useful functions such as clear upfront pricing, user refunds, the “Waitlist” feature, etc. DICE CEO and Founder, Phil Hutcheon, said in this regard:

“DICE is rewiring the live experiences industry. We have proven that if you treat fans well, they go out more. We’re overhauling an unfair, inefficient system by pioneering a transparent, data-led, fan-first approach – building a scalable ecosystem that helps artists, promoters and venues thrive. To have SoftBank as a partner enables us to expand into every market.”

At this time, DICE is working with more than 3,600 venues, festivals, and promoters around the world including Brooklyn’s Avant Gardner and one of the world’s largest music festivals, Primavera Sound. This startup plans to have about 49,000 artists and creators using its platform by the end of 2022, a reflection of the increasing growth it has experienced over the past years.

DICE will use this new investment to focus on expanding its workforce and reach to artists, fans, and venues, as well as to further expand its live streaming service and launch an ambitious artist development program. The entertainment startup is looking to provide music fans with new ways to discover new talent at a time when digital platforms have displaced traditional discovery platforms.