In September 27th, 2021, it was revealed that London’s Dice raises $122M through their third round of seed funding. The UK based livestreaming and ticketing online event platform has raked up $400 million of investment, according to a source. The company stated that the funding will be used to grow themselves significantly.
Gained Investment by Dice through Series C Funding
The news that London’s Dice raises $122M from their Series C funding made it to the news at the near end September 2021. In total, the capital that has been successfully gained by this platform that helps people to find and attends live virtual events through funding round has accumulated to $400 million.
Aside from This funding round was led by SoftBank Vision Fund 2, which is a new investor to the company. It was joined by Tony Fadell (prolific engineer from Future Shape) and Xavier Niel (French entrepreneur), along with Cassius, Evolution, Mirabaud, and Blisce.
In addition, all of the investors of previous funding round, which has gained the company $45 million, were also participating. These include Demis Hassabis and Mustafa Suleyman, the co-founders of DeepMind, considering that the early focus of this company was on recommender system and data science.
The online conference platform provider conveyed that the additional funding will be utilized to grow the company significantly, by extending their reach to venues, artists, and funds. This is accompanied by incorporating more live stream offering, employing new team members, and releasing artist development program to collaborate with more artists in the future.
Moreover, the new investment is also going to be directed towards the virtual conference company’s geographic expansion. Recently, they have been focusing on the United States, in which their business seems to growing rapidly since more cities and customers of virtual event companies started to wake up from their pandemic hibernation. According to the company’s co-founder and CEO, Phil Hutcheon, the service is used by more than 1 million people in August in New York alone.
Dice was established back in 2014 in London. It transforms the way fans discover live streams and live events across the world. The company mostly works for music events; by it also offers various event genres such as comedy, arts, lifestyle, and culture. At the beginning of pandemic, it has started to provide ticket purchasing service.
The live conference platform provider thrives in its origin country UK, along with Spain, Italy, and Australia. Since 2019, it is also live in the US, and in 2020, it released the virtual event app in India.
As of 2021, the company works with more than 3,600 promoters, festivals, and venues. It aims to work with 49,000 creators and artists at the end of the 2020.
To reach this goal, according to the co-founder and CEO of the company, they have been working in three areas that provide what’s missing by other virtual meeting platforms. First area is secure and easy ticketing for venues and users. Second is advanced discovery so people can receive reliable recommendations based on their interests and locations. Third is to provide connected community with common interest on their site.