Spotlight Raises $2.5M To Improve Corporate Ticket Utilization
Spotlight Ticket Management has closed a $2.5 million round of Series A financing led by Point Judith Capital. Founded by former StubHub executives, Spotlight is focused on providing corporate ticket owners and sports teams with a solution that maximizes the impact of event tickets purchased by businesses.
The company says that over 1000 corporations like NBC Universal and Motorola and 20 teams in the four major professional sports leagues including the Miami HEAT and Chicago Bears are currently using the product. Spotlight partners with all entities in the ticket value chain including leagues, teams, companies, marketplaces, and event providers, in an effort to give the user a full picture of their optimal ticket utilization.
"We are pleased to have Point Judith Capital as our new venture capital partner along with the financial support of some of the most respected and successful private investors and executives in the sports world," said Joe Greiner, CEO of Spotlight Ticket Management. "This infusion of capital will allow us to dramatically change the game in our industry. We firmly believe that Spotlight TMS is a mandatory new technology for businesses that will revolutionize the ROI for spending on entertainment tickets and events."
"Spotlight has already firmly established itself as an industry leader within the event ticket management space and possesses the qualities we look for in category-defining companies -- a tenured and experienced founding team, superior technology and a large market opportunity," said Sean Marsh, co-founder and General Partner at Point Judith Capital. "Spotlight is positioned to bring the power of its TMS software to big and small businesses alike."
In addition to Point Judith Capital, Brian Bedol has also joined the round of financing. Bedol founded the former Classic Sports Network (now ESPN Classic) and CSTV (now CBS College Sports) and has been named to BusinessWeek's Best Leaders of 2005 and Sports Business Journal's 20 most influential people in online sports.
"While there are a handful of good consumer ticketing solutions, Spotlight's unique approach to the corporate ticketing market and its rapid adoption by teams indicates to me that the company is providing a valuable service," said Brian Bedol.
For more on Spotlight, check out this CNBC interview with Spotlight President and Chairman of the Board, Tony Knopp.