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Ticket Evolution Evolves with $3.5M Series A

2012-05-22
JERSEY CITY, NJ, Ticket Evolution, headquartered in Jersey City, NJ and Plano, Texas, closed a $3.5 million round of venture funding from Raptor Ventures and Boston-based Dace Ventures.
Raptor Group, a Boston and New York City-based alternative investment firm, announces a new partnership with Ticket Evolution, a revolutionary ticketing software company.

Entering into its next phase of growth, Ticket Evolution, headquartered in Jersey City, NJ and Plano, Texas, closed a $3.5 million round of venture funding from Raptor Ventures and Boston-based Dace Ventures. Ticket Evolution simultaneously entered into a wide ranging business development agreement with Raptor Accelerator - a subsidiary of Raptor Group, specializing in growth and expansion strategies for their clients.

The Series A Preferred financing is being led by Harry DeMott, Managing Director at Raptor Ventures and Dave Andonian, Managing Partner of Dace Ventures - both of whom are joining the Board of Directors. Ticket Evolution is one of a number of investments Raptor and its partners have made in the ticketing sector. This financial partnership will give Ticket Evolution the resources needed to rapidly expand its distribution channels and market influence.

"Ticket Evolution has successfully altered the model for brokerages and consumers to connect and engage in ticket buying," said DeMott. "Through its innovative use of dynamic and real-time tools, the Ticket Evolution team has proven the success of a platform based on marketplace-driven metrics, as opposed to an exclusive cartel of larger players. We look forward to working with the Ticket Evolution team, Dace, our over 100 broker investors, as well as our sister company, Raptor Accelerator, to rapidly expand in this high-powered marketplace."

Sean Barror, Managing Partner and co-founder of Raptor Accelerator states "We look forward to developing some extremely creative and groundbreaking distribution partnerships together. We believe in the Ticket Evolution team and their technology, and the huge potential for growth."

"We are excited to be working with some of the most aggressive and innovative investment firms in the world," said Ticket Evolution Chairman and Co-Founder, Steve Parry. "Their knowledge of the space and the scale of their investment demonstrates incredible commitment and confidence in both the Ticket Evolution business model and our collective vision for the future of ticket sales and distribution."

Ticket Evolution uses proprietary tools to ensure a more responsive, transparent and efficient marketplace for ticket sales and distribution. It is designed to become the standard by which ticket brokers and aggregators of all sizes are able to most efficiently and effectively drive increased volume and productivity. The developed network currently includes over 475 brokerages nationwide, and Parry intends to double the number of top quality brokers by the end of 2013.

About Ticket Evolution
Ticket Evolution is a ticketing technology company that has developed a revolutionary, automated ticket uploader application. This technology has changed the modus operandi for secondary market ticket brokers and aggregators by sending their inventory files to multiple exchanges. There are many features included with this technology. The point of sale system integrates real time purchasing, and automatically coordinates with inventory, shipping, record keeping, and order management for maximum user functionality. In addition, Ticket Evolution has integrated mobile technology and third party application programming interfaces including accounting suites and marketing tools to increase the efficiency of the program. Learn more at www.ticketevolution.com.

About Raptor Ventures
Raptor Ventures, with offices in Boston, MA and New York City, is the venture capital arm of Raptor Group, a diversified financial services firm. Raptor Ventures specializes in early stage digital media and consumer facing Internet deals, particularly where there is an intersection between traditional and digital businesses. For more information, visit www.raptorventures.com.

About Dace Ventures
Dace Ventures is an early-stage venture capital firm with over $70 million in funds under management. Dace is actively investing in entrepreneurs building the Next Wave of internet-related innovations focused on digital media, consumer marketing and mobile services. For more information, visit www.daceventures.com.

About RaptorAccelerator
RaptorAccelerator, headquartered in Boston, MA, with offices in New York City and Austin, Texas, is a majority owned subsidiary of Raptor Group, a diversified financial services firm. RaptorAccelerator provides specialized sales and revenue generation advisory services to sports, media, entertainment and content technology companies. For more information, visit www.raptoraccelerator.com.
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