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Festival Insights NEWS: Verve (FKA StreetTeam) raises $18.5 million in funding

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UK: Verve, the world’s leading word of mouth sales software for live entertainment, has closed a $18.5 million funding round led by Draper Esprit, and including former investors, Kindred, Frontline Ventures, and Backed.

Co-founded by Callum and Liam Negus-Fancey, Verve is building a global platform that enables people to sell the products they love to their friends in exchange for rewards. Over the last 12 months, Verve has achieved significant success within the live entertainment industry, growing from 170 to 450 clients, selling more than 500,000 tickets globally and securing major partnerships with some of the best ticketing companies around the world including Eventbrite, Paylogic and Frontgate. With $28.5m raised to date, it will use the capital to continue its global expansion within the live entertainment sector, as well as enter new markets.

Verve’s customers include Live Nation, AEG, C3, Bonnaroo,…

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