Live event and merchandise payment platform atVenu scores $30 million in funding from Frontier Growth.
The California-based company atVenu, a platform that processes live event and concert merchandise payments, announces raising $30 million in funding from Frontier Growth, a software-centric private equity firm. atVenu helps manage more than 125,000 shows annually, covering smaller club events, medium-sized theater events, and large stadium shows and festivals.
“We’re excited to announce we’ve received a $30 million minority growth investment from Frontier Growth,” the company said in an Instagram post. “As we continue to accelerate forward into new products, customers, and markets, we believe now is the perfect time to bring in this new partner.”
Founded in 2012, atVenu provides point-of-sale, inventory tracking, automated reporting, and other tools for artists, merchandisers, labels, venues, promoters, and concessionaires during live events. The platform accepts all major forms of payment, cash or cashless, credit, debit, Apple Pay, Android Pay, and more.
“It’s been an incredible first ten years for the atVenu team,” says atVenu co-founder and president Ben Brannen. “From starting as an idea in the back of a touring van, to becoming the industry standard for concert merchandise is an accomplishment for which we’re grateful.”
“atVenu’s commitment to the customer and end markets they serve is unrelenting,” adds Frontier Growth partner Andrew Lindner. “We were drawn to their unique ability to develop modern technology that is changing the way the live events market does business.”
“We believe opportunities are largely achieved because of those around you,” atVenu’s Ben Brannen continued. “Adding Frontier Growth to the atVenu team brings the people, experiences, and resources to accelerate our growth and accomplish what we know this company and its people are capable of.”
Frontier Growth is based in Charlotte, NC, and manages about $1.8 billion in assets. Its active investments include social media analytics firm ListenFirst, media and ad tech sales development firm MediaRadar, and digital public policy firm Capitol Canary.
In addition to providing payment services for merchandise by artists that include Sleeping With Sirens, TWRP, New Hope Club, and many more, atVenu also tracks the best-selling items by genre of music. Recently the company revealed that drink koozies are the most popular for rock and alternative genres, while zip-up and pullover hoodies are more popular for country and pop.