Smart ticketing specialist Smeetz raises USD 4.1 million and expands internationallyTuesday 14 June 2022
Headquartered in Lausanne, Smeetz currently employs 40 people. The start-up has recently opened subsidiaries in the United Kingdom and France, and plans to expand into the United States in the near future. | © Smeetz
Smeetz, a provider of all-in-one smart ticketing software for leisure and cultural attractions, announced the closing of its Series A funding round in the amount of USD 4.1 million.
Based on data and dynamic pricing for museums, amusement parks, leisure and music venues and theaters, Vaud-based start-up Smeetz aims to spearhead a unified marketplace.
The USD 4.1 million raised in Smeetz's Series A financing round will be used to drive the significant growth the company has experienced in recent years. After England and France, the start-up plans to expand into the United States. The funds will also be used to strengthen the company's HR and R&D departments in order to go beyond the industry's needs in terms of innovation.
"We understand that the future of the entertainment industry lies in data and artificial intelligence. AI-powered sales optimization has been our goal since day one and we will continue to push in that direction by expanding our engineering team with the brightest and most agile profiles," said Morgan Siffert, CTO & Co-founder of Smeetz.
Gregory Armstrong, CEO of NewOak, commented, "We have followed Smeetz since its early days and have been impressed with the milestones the company has achieved. We are honored to have been selected as a co-lead alongside Privilege Ventures, with whom we share common values in early stage investing. Being part of this Series A shows our continued commitment to helping Swiss start-ups grow. We wish the Smeetz family continued success in a market they are disrupting with great flair."
Next up for Smeetz is the US market, as the US leisure and entertainment industry is already thriving in 2022, with a market growth of +14% from the pre-pandemic peak in 2019. In a more advanced market prone to dynamic pricing, Smeetz is extremely confident in the product/market fit of their AI-powered unified commerce solution.