ShowClix, the online ticketing startup, has received a round of funding from Pittsburgh's newest venture capital group, Pittsburgh Equity Partners, allowing the firm to hire and expand.
In addition to seeking a larger space, ShowClix plans to add an additional 10 to 15 people. It is the first company to secure funding from Pittsburgh Equity Partners, an ongoing $5 million fund that will continue to raise capital through March of next year.
PEP is focused on early stage information technology and life science companies in the region, firms that are past the development stage and ready for the next step.The target companies will require less than $10 million total lifetime financing prior to an exit.
"There's a huge pent up demand for a fund like ours," says Steve Robinson, who manages the fund with Edward Engler.
Due diligence showed that customers found ShowClix to be user friendly, less expensive and far superior to any other ticketing agency, Robinson says. "To use a bad pun, we clicked with them off the bat. They offer a simple yet elegant solution to the very exciting growing and emerging market for online ticketing."
Founded in 2007, ShowClix provides web-based solutions to event organizers, promoters and venue managers across the country, tapping into a multi-million dollar market. The undisclosed sum will be used to make several key hires, strengthening sales and marketing efforts and expanding customer support, says Lynsie Camuso, co-founder and vice president.
ShowClix plans to hire account managers, sales people, customer service reps and a COO by the end of the year. The team is looking to relocate to a Keystone Innovation Zone, possibly the East End or the North Shore.
"People are looking for an alternative to Ticketmaster, trying to find a company that offers similar services and can handle their needs," says Camuso. "We offer a full-service solution. We want to grow into working with arena-sized clients."
Prior to PEP, ShowClix received several rounds of funding from Innovation Works.
Writer: Debra Diamond Smit
Source: Lynsie Camuso, ShowClix, Steve Robinson, Pittsburgh Equity Partners
Founders Lynsie Camuso and Joshua Dziabiak of ShowClix
Photograph courtesy of ShowClix