Spotlight Ticket Management Announces $2.5 Million Series A Financing
Additional Investors also Include Sports Media Entrepreneur Brian Bedol
Woodland Hills, CA – October 26, 2010 – Spotlight Ticket Management, the first and only independent web based software firm dedicated to the corporate sports & entertainment dollar, today announced that it has closed a $2.5 million round of Series A financing led by Point Judith Capital. Founded by former StubHub executives, Spotlight is focused on providing corporate ticket owners and sports teams with a solution that maximizes the impact of event tickets that represent valuable business assets when organized, tracked and utilized using cutting edge web technology. The Spotlight Ticket Management Solution (TMS), is the most advanced, intuitive and easy to use company ticket management software on the market today. Over 1000 corporations like NBC Universal and Motorola and 20 teams in the four major professional sports leagues including the Miami HEAT and Chicago Bears currently use the product. Spotlight is the only ticket management provider that partners with all entities in the ticket value chain including leagues, teams, companies, marketplaces, and event providers, to assure partners are getting the most objective and powerful tool possible.
“We are pleased to have Point Judith Capital as our new venture capital partner along with the financial support of some of the most respected and successful private investors and executives in the sports world,” said Joe Greiner, CEO of Spotlight Ticket Management. “This infusion of capital will allow us to dramatically change the game in our industry. We firmly believe that Spotlight TMS is a mandatory new technology for businesses that will revolutionize the ROI for spending on entertainment tickets and events.”
“Spotlight has already firmly established itself as an industry leader within the event ticket management space and possesses the qualities we look for in category-defining companies — a tenured and experienced founding team, superior technology and a large market opportunity,” said Sean Marsh, co-founder and General Partner at Point Judith Capital. “Spotlight is positioned to bring the power of its TMS software to big and small businesses alike.”
In addition to Point Judith Capital, Brian Bedol has also joined the round of financing. Bedol is well known for his successes in the sports broadcast world having founded the former Classic Sports Network (now ESPN Classic) and CSTV (now CBS College Sports). Business Week named Bedol to its list of Best Leaders of 2005 and Sports Business Journal named him one of the 20 most influential people in online sports.
“While there are a handful of good consumer ticketing solutions, Spotlight’s unique approach to the corporate ticketing market and its rapid adoption by teams indicates to me that the company is providing a valuable service,” said Brian Bedol.
As part of the financing agreement, Marsh will join the Spotlight board of directors along with Point Judith co-founder and General Partner, David Martirano.
The founding team at Spotlight Ticket Management is:
About Spotlight Ticket Management
Spotlight Ticket Management has engineered the first Software As A Service (“SAAS”) application automating all aspects of sports and entertainment tickets, suites, and hospitality assets including tickets from all providers such as StubHub and more. Spotlight Ticket Management Solution provides data to determine the ROI from sponsorship assets, season tickets, luxury suites, hospitality, and events. Over 1000 corporations like NBC Universal and Motorola and 20 teams in the four major professional sports leagues including the Miami HEAT and Chicago Bears currently use the product which has been profiled by national media such as CNBC.
Based in Woodland Hills, CA, Spotlight is the only firm with no conflict of interest and a sole focus on the bottom line for clients and partners sports and entertainment investments. For more information visit www.spotlighttms.com
About Point Judith Capital
At Point Judith Capital, we seek to Unite Innovative Founders with Serial Entrepreneurs to build world class companies. We focus on rapidly growing sectors that are rich in innovation: Internet & Mobile Technology, , Healthcare Technology, and Clean Technology. We work with our portfolio companies in a hands-on collaboration throughout the life of these high growth enterprises. Our investment approach is based on a core belief that with the right capital and support, great entrepreneurs can build market leading companies such as Multiply.com, Optasite, and Taqua. For more information about Point Judith Capital visit www.pointjudithcapital.com