DICE – the world’s largest independent music ticketing platform – recently announced it has raised a $65 million funding round led by MUSIC, the first-ever diversified investment company focused exclusively on music and music-adjacent businesses. MUSIC’s CEO Matt Pincus will join the DICE Board of Directors. Other investors include Structural Capital and Ahdritz Holding LLC, the investment vehicle for Willard Ahdritz, founder and chairman of Kobalt Music, with follow-on investments from Exor Ventures and Mirabaud Lifestyle Fund.
This funding round will help accelerate DICE’s launch in new cities as it continues its expansion across the US and globally. And new partnerships to be announced in the coming weeks mean that DICE is now bringing a fairer and more transparent approach to ticketing live events to Austin, with details to follow. The funding news also follows landmark deals in Europe, including iconic venue Alexandra Palace and cultural center the Institute of Contemporary Arts, along with recent renewals with Troxy.
DICE has millions of fans using the platform to discover and attend live events. And this year, over 55,000 artists and 10,000+ venues, festivals, and promoters will use DICE to sell their tickets across 30 cities. Earlier this summer, Hutcheon joined President Biden at the White House to show how DICE has led the way on transparent and fair ticket pricing, protecting fans from resellers and junk fees.
DICE’s app locks tickets to smartphones, keeping tickets in the hands of real fans while ensuring fair and transparent pricing. And this new funding will also support DICE’s ongoing product investments to create the best possible experience for fans and remove barriers preventing people from going out more.
DICE has continuously invested in Discovery, and each fan’s app is personalized for them, helping them find amazing new artists and ensuring they don’t miss out on their favorite artists. Nearly 50% of all tickets sold are via Discovery. And DICE also recently introduced a new fan feature named Groups, making it easier to connect with friends and coordinate going out for live events, reducing the stress of group admin and fatigue from switching between multiple apps.
The company also recently announced the appointment of Ali Byrd as DICE’s Chief Financial Officer. And Ali joins DICE with over a decade’s experience supporting fast-growth companies, most recently at Olive, a disruptive AI healthcare technology company based in the US. He had previously held senior positions at Microsoft, CoverWallet, and Limewire. Ali will be based in New York.
This funding round follows a string of strategic hires, including the appointment of esteemed music industry veteran Caron Veazey, to DICE’s Board of Directors, as well as former SVP of Growth and Marketing at HBO Max, Katie Soo, as Chief Business Officer to help drive the company’s strategic growth propositions and marketing.
KEY QUOTES:
“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.”
“It was an honor to be part of the discussion with President Biden and we are proud to be part of the Fix The Tix coalition. Doing the right things for fans is always our priority at DICE.”
— Phil Hutcheon, CEO and Founder of DICE
“DICE did the impossible: They made buying a ticket fun. And by doing that, they became much more than a transaction provider. DICE is the premier user-centric engagement platform for the most important consumers in music: people who love to go to shows.”
— Matt Pincus, entrepreneur, investor and Co-Founder and CEO of MUSIC
“I met Phil in 2015 having heard about DICE. Rolling out AWAL at that time, I needed so many more venues for all my acts to play. DICE delivers a transformative experience for all stakeholders – from fans to venues to artists and looked like the future for live music. DICE has come a long way on their vision, and today it’s even clearer that the live industry needs changing. I am excited to have the opportunity to be part of the company as an investor.”
— Willard Ahdritz, founder of Ahdritz Holdings LLC and founder and chairman of Kobalt Music
“Structural Capital is very excited to be involved in helping DICE continue its success and future growth. We believe DICE is a true industry innovator.”
— Kai Tse, Structural Capital Co-Founder & Managing Partner
