Barcelona-based events platform Xceed has announced the closing of a €2 million (currently $2.08 million) funding round.
The nine-year-old company, which enables live event organizers and venues to “digitize their online presence and sales,” announced the multimillion-dollar raise in an official release today. In addition to connecting entertainment-focused fans with music events (executives pointed to a total of 30 million bookings made through their service to date), Xceed software helps venues manage “their people, marketing, ticketing, door , Table and Guest List Systems” UPS.
Recognizing the multifaceted nature of Xceed’s offerings, Estonia’s Trind Ventures (which has backed companies such as Sonarworks) led the just-announced round, with other participants including Berlin’s Best Nights VC (Jägermeister’s VC) and Helsinki’s Superhero Capital.
And on the angel investor side, Xceed received capital from Mutuionline founder and CEO Alessandro Fracassi, Superhero General Partner Fernando Herrera, Global Super Angels Club co-founder Andreas Mihalovits, and Boksi founder and CEO Lasse Laaksonen.
The €2 million tranche follows a €550,000 pre-seed round completed in 2015 and a €2.3 million seed round in October 2019, Xceed reiterated. Higher companies intend to use the latest tools to expand their company’s technology and expand into new markets. (Xceed, not to be confused with artist investment platform Exceed, is currently available in around 125 cities in 15 countries.)
“This funding round will spur our technology investments in automating and personalizing itineraries through machine learning and customizable event discovery experiences,” said Xceed co-founder and CEO Mattia Franco, whose company is said to be a client in Ibiza. Headquarters of Pacha Group, Spanish nightclub Es Paradis and Italian venue Phi Beach to name a few.
“It brings on board some of the best funds and industry players on the European scene. They bring the best know-how and execution skills we could wish for on our journey to enter new markets while consolidating our leadership in Southern Europe,” he concluded.
Xceed’s €2m boost comes after both Festicket and Pollen closed in 2022 after the live entertainment space suffered unprecedented damage from lockdown measures and bans on large gatherings.
On the earlier front, Festicket’s debts exceeded $27 million, bankruptcy documents revealed, and Lyte eventually acquired the assets of the London-based music festival platform. Meanwhile, events company Pollen, despite claiming to have raised $150 million via a Series C in April, owed creditors $83 million when it finally shut down in August after months of much-publicized operational difficulties.