While SeatGeek has made acquisitions before, this is its biggest, and the company funded the deal by raising a $57 million Series D led by Glynn Capital. (Previous investors Accel, Causeway Media Partners, Haystack Partners, Mousse Partners and Technology Crossover Ventures also participated.)
“We really weren’t thinking money,” SeatGeek’s Jack Groetzinger told me. (He’s pictured above with his co-founder, Russell d’Souza.) “We were in a pretty strong position, with cash on the balance sheet, but it felt like [this acquisition] was too good to pass up.”
He suggested that SeatGeek and TopTix make for a particularly good match because while his company has focused on building the best consumer experience for finding events and buying tickets, TopTix works on the back end, creating the…