Independent music ticketing platform Dice has raised a $65m funding round led by investment company Music – which focuses exclusively on music and music-adjacent businesses.
Music CEO Matt Pincus will also join the Dice board of directors. Other investors include Structural Capital and Willard Ahdritz’s Ahdritz Holding LLC, with follow-on investments from Exor Ventures and Mirabaud Lifestyle Fund.
An official press release stated that the funding will “help accelerate Dice’s launch in new cities, as it continues its expansion across the US and globally.”
Dice also confirmed it will be announcing new partnerships in the coming weeks, including a launch in Austin. Previously, Dice has struck deals in Europe, including Alexandra Palace, the Institute of Contemporary Arts and Troxy.
Speaking about the funding, Phil Hutcheon, CEO and founder of Dice, said: “The live music industry is adopting Dice faster than ever and proves our thesis that if you treat fans well, they buy more tickets, and go out more often. We’re investing heavily in building even more technology and this year alone we released over 60 new features for fans, venues and artists. I’m excited that Matt (Pincus) has joined the Board and we’re more focused than ever on our mission to get fans out more.”
Dice – who triumphed in the Ticketing Company category at the Music Week Awards 2023 – say that over 55,000 artists and 10,000+ venues, festivals and promoters will use its platform to sell their tickets across 30 cities.
The new funding will also support Dice’s ongoing product investments.
We’re more focused than ever on our mission to get fans out more
Phil Hutcheon, Dice
Matt Pincus, entrepreneur, investor and Co-Founder and CEO of Music, said: “DICE did the impossible: They made buying a ticket fun. And by doing that, they became much more than a transaction provider. DICE is the premier user-centric engagement platform for the most important consumers in music: people who love to go to shows.”
Willard Ahdritz, founder of Ahdritz Holdings LLC and founder and chairman of Kobalt Music, added: “I met Phil in 2015 having heard about DICE. Rolling out AWAL at that time, I needed so many more venues for all my acts to play. DICE delivers a transformative experience for all stakeholders - from fans to venues to artists and looked like the future for live music. DICE has come a long way on their vision, and today it’s even clearer that the live industry needs changing. I am excited to have the opportunity to be part of the company as an investor.”
Kai Tse, co-founder & managing partner of Structural Capital, said: “Structural Capital is very excited to be involved in helping DICE continue its success and future growth. We believe Dice is a true industry innovator.”
Also announced today is the appointment of Ali Byrd as Dice’s chief financial officer. Byrd, who will be based in New York, most recently worked at AI healthcare technology company Olive. He previously held senior positions at Microsoft, CoverWallet and Limewire.
You can read our recent interview with Dice's Phil Hutcheon here.
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