Music ticketing platform Xceed has secured €2m (£1.7m/$2m) from its latest funding round.
Xceed was launched in Europe by Mattia Franco and Luca Papaleo and is now available in over 15 countries and 125 cities. It provides software for clubs, bars and festivals across the globe.
The software enables clients to digitise their online presence and sales, as well as manage their staff, marketing and operations. This means that venues and promoters can digitise their ticket, door, table and guest-list management systems through one platform.
Xceed’s first pre-seed round of €550,000 of investment was led by 360 Capital Partners in April 2015, and in October 2019 there was a second seed round which raised €2.3m. This latest round was led by Trind Ventures and was joined by Jäegermeister’s VC, Best Nights VC and SuperHero Capital. The round secured a further €2m.
Franco, chief executive and co-founder of Xceed, said: “This funding round will boost our technological investment in the automation and personalisation of going-out plans via machine learning and customisable events discovery user experience. It brings aboard some of the best funds and industry players in the European scene. They bring with them the best know-how and execution skills we could ask for in our journey towards launching new markets while consolidating our Southern European leadership.”
He added: “The one thing that a pandemic taught us is how strongly we value real human connection. At Xceed we believe that millennials and generation Zs are more and more attracted to social experiences rather than cluttering their apartments with products.
“Our goal is to empower everyone to go out and live the best social experiences of their lives. Those experiences should be spontaneous, and Xceed empowers clubbers to interact, follow their favourite artists, and book events in a single tap, so they can concentrate on having fun, which is what life should all be about.”
Reima Linnanvirta, managing partner of Trind Ventures, said: “We believe Xceed’s technology will transform the way we will consume live entertainment in the future. Xceed has an excellent product catering the needs of different stakeholders, and it is backed by a team that has shown great determination, strength and resilience in building the business and fulfilling their long-term mission.”