Following the confirmation of a restructuring of the organisation and subsequent round of layoffs, things are looking less dicey at London-based music ticketing platform DICE. Today the company officially announces a $65 million funding round led by MUSIC, the investment company co-founded by former ASCAP member of the board of directors, and independent music publisher SONGS, Matt Pincus.
Including this round, DICE has raised in excess of $200 million (the amounts attached to a seed round and Series B round led by Alexandre Mars’ Blisce remain undisclosed), with a notable $122 million Series C round that was led by Softbank announced in autumn of 2021.
Additional investors in DICE's $65 million round include Structural Capital and Ahdritz Holding, the investment vehicle for Willard Ahdritz, founder and chairman of Kobalt Music (the organisation that acquired Mr. Pincus' SONGS); with follow-on investments from Exor Ventures and Mirabaud Lifestyle Fund.
The influx of capital serves as a catalyst to propel DICE's expansion into new countries and cities as well as support additional partnerships including those struck with London's Alexandra Palace and the Insitute of Contemporary Arts. Likewise, the company cites a number of new products slated for release later this year.
As noted in Tech.eu's coverage of the layoffs, the company has most recently appointed former vice president of growth marketing at HBO Max, and holder of various executive positions at Hulu, DC Universe, and Warner Bros. Digital Networks Katie Soo to the position of chief business officer, as well as the organisation’s former general council Jack Whibicks to the position of chief operating officer.
According to DICE, over 55,000 artists and some 10,000+ venues, festivals, and promoters, have chosen DICE as their preferred avenue for ticket distribution across a global canvas that spans 30 cities.
“The live music industry is adopting DICE faster than ever and proves our thesis that if you treat fans well, they buy more tickets, and go out more often. We’re investing heavily in building even more technology and this year alone we released over 60 new features for fans, venues, and artists. I’m excited that Matt (Pincus) has joined the Board and we’re more focused than ever on our mission to get fans out more.” - Phil Hutcheon, CEO and founder at DICE.
Lead image: DICE