Ticketing platform SeatGeek announced today that it had raised $238 million privately as part of a Series E funding round, TechCrunch reports. The company has a valuation of $1 billion. Long-time investor Accel led the funding with participation from investors Wellington Management, Arctos Sports Partners, and Ryan Smith, founder of Smith Entertainment Group and founder and executive chairman of Qualtrics.
The news comes after the company in June terminated a merger deal with blank-check company RedBall Acquisition to go public. The business combination with RedBall, which has since liquidated, had an implied enterprise value of approximately $1.35 billion. Read more.
