Investments

Atom Tickets Raises $60M; Adds Fidelity As Investor

Atom Tickets, the movie ticket app, announced news on Thursday (March 8) that it closed a Series C round of funding, raising more than $60 million.

In a press release, the company said the round was led by Fidelity Management & Research Company. The fresh funding comes two years after Atom Tickets raised $50 million in a Series B investing round from Lionsgate, Disney and Twentieth Century Fox Film. Those investors also participated in the latest fundraising event, Atom Tickets said in the press release.

“This year has proven to be our biggest yet in terms of growth, because we’re leading and delivering on what the industry needs,” said Matthew Bakal, co-founder and chairman of Atom Tickets. “A year ago, we were rolling out our platform to exhibitors across the country, and now we’ve secured backing by Fidelity Investments, one of the biggest players in finance. We’re also thrilled to welcome back our initial studio partners Lionsgate, Disney and Twentieth Century Fox Film, whose collective industry leadership has helped guide us through these major milestones.”

Following a nationwide rollout in 2016, Atom said it has tripled its users and ticket sales in one year, with the movie ticket purchasing platform’s integrated social features luring customers its way. The app includes advance ticket purchasing, the ability to invite friends and sit together (even when paying separately), concession ordering and line-skipping at the theater.

“We’re pleased to participate in this latest round of financing for Atom Tickets, which has demonstrated enormous traction with exhibition partners, studios and moviegoers during the past year,” said Lionsgate Vice Chairman Michael Burns. “We’re delighted to add our friends at Fidelity Investments to a blue-chip group of studio and talent partners helping to take Atom to the next level as a groundbreaking force for change in the movie-going experience.”

——————————

LIVE PYMNTS ROUNDTABLE: MODERNIZING & SCALING FOR THE NEW NORMAL

The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

TRENDING RIGHT NOW