atVenu Announces $130 Million Equity Investment from Sixth Street Growth
Photo Credit: atVenu
Sixth Street Growth makes a $130 million investment in atVenu to further its position as a leading live event software and payments solution provider.
Leading global provider of live event software and payments solutions, atVenu, has announced a $130 million equity investment from Sixth Street Growth. The partnership will build upon and accelerate the company’s impressive historical growth into new live event markets, including sports, food, and beverage, while maintaining its position as the industry standard in music merchandise.
Founded in 2012, atVenu provides a purpose-built live event platform to the world’s largest touring artists, merchandisers, record labels, venue operators, festival promoters, and food/beverage concessionaires. The platform’s inventory management, forecasting, and multi-stakeholder financial settlements, coupled with its integrated point-of-sale, aim to deliver a unique value proposition catering to the complex needs of pop-up commerce environments.
Customers using atVenu have reported upwards of 20% revenue uplift compared to generic point-of-sale systems due to event-specific inventory management, multi-location sales controls, and faster throughput.
During an event, atVenu makes managing locations, inventory, and the deployment of point-of-sale hardware easy while also providing real-time data required for organizers to optimize their events. This platform, unlike others designed for traditional retail, ensures maximized revenue within the limited window of an event.
“We’re thrilled to partner with Sixth Street for atVenu’s next chapter,” said Ben Brannen, atVenu Co-Founder and President. “The firm’s vision and conviction on the growth opportunities in live events entirely aligns with ours. The opportunity to join forces with their team and deploy our combined resources to expand atVenu’s reach is incredibly exciting.”
“Over the past decade, atVenu has been intensely focused on helping our customers execute successful and profitable events,” said Derek Ball, atVenu Co-Founder and CEO. “Sixth Street clearly shares this mission and clarity of purpose and will add tremendous value as our impact on this industry continues to accelerate.”
Currently, atVenu processes over $1.6 billion in merchandise and food and beverage volume annually. It is trusted at over 125,000 events each year, ranging from small clubs and mid-size amphitheaters to some of the to some of the largest stadiums, venues, festivals, and sporting events worldwide. The company has established itself as the leader in the music merchandise space and continues to grow into new event markets and geographic territories.
“atVenu’s innovative solutions, inspired by the founders’ deep roots and firsthand experience in the live events world, empower stakeholders across the value chain,” concluded Michael Bauer, Principal at Sixth Street Growth. “We are confident that atVenu is uniquely positioned to capitalize on the exciting opportunity set ahead and we look forward to supporting them on that journey.”
Sixth Street’s investment is a result of cross-platform collaboration between its sports and media investing expertise as well as its growth investing business and experience supporting companies across the payments and fintech space.
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