TicketGuardian, a Newport Beach, California-based insurance technology company, announced it has raised $8 million in Series A funding led by American Family Ventures and IA Capital Group. Since the company was founded, TicketGuardian has raised a total of $13 million in funding.
With this funding round, TicketGuardian is going to fuel the growth of its technology, products, and services used by event organizers, ticketing platforms, attendees, and fans.
“This new injection of capital will enable us to grow our company, our services and our customer base,” said TicketGuardian CEO and founder Bryan Derbyshire in a statement. “Along with the expertise of our investors, it allows us to continue our innovation and remain the insurtech thought leader in the live event space.”
TicketGuardian solves a problem where consumers lose money after buying more than 1 billion tickets to concerts, festivals, sports, and other live events that they are not able to attend every year. Through TicketGuardian, attendees can insure their purchased ticket, registration, or booking through TicketGuardian’s FanShield product suite. TicketGuardian is now powering attendee protection approximately every 45 seconds.
“We are extremely excited to be partnering with TicketGuardian as it has built the first live events industry-focused insurtech platform,” added American Family Ventures Principal Drew Aldrich. “TicketGuardian is fundamentally reshaping the way that live event ecosystems protects their investments. We are excited about its vision, technology and the incredible opportunity. We’re thrilled to join with them to continue to enable their significant growth.”
Photo Credit: TicketGuardian
TicketGuardian now has more than 40 employees and the company has partnered with dozens of platforms such as Provenue, Accesso Showare, Showclix, events.com and several others. Across these platforms, more than 100 million tickets and registrations are purchased every year. TicketGuardian also provides real-time data and analytics around inventory, customer service, strategic marketing, and fan experience.
“TicketGuardian embodies the future of insurtech, providing a frictionless customer experience and peace of mind while augmenting the enterprise technology of its key platform partners,” explained IA Capital Principal Matt Perlman.