Central regions | Retail, FMCG | Technology & innovation
Russian cloud solution for paper and e-ticketing gets funding
8 Aug '14
Moscow Seed Fund, the Moscow government VC fund, and Starta Capital, a private investment firm, have invested just under $130k in Tickets Cloud, a B2B platform for a new ticketing market in Russia, Moscow Seed Fund announced.
Alexander Borodich, a Russian venture capitalist, and IMI.VC Investment Company have acted as co-investors, the fund pointed out.
Egor Egerev, the developer of Tickets Cloud, aims to upgrade the domestic market for entertainment ticketing to a brand new level. Today, event hosts have to interact with each ticket distributor individually. The cloud-based model that Tickets Cloud offers is similar to the approach that air ticket operators use in their work. It is believed to help cut costs, optimize operation, minimize the risk of duplicating a ticket, and maximize the likelihood of selling all the tickets available for an event.
Applying what is said to be cutting-edge technology appears to ensure that all the key stages of interaction between a host and ticket distributors are fully automated. Event organizers are offered a range of tools to control ticket sales and set the terms and conditions of a deal, a pool of distributors, and deadlines for selling tickets. Distributors also benefit as they get access to an updatable database of events. A host picks a number of distributors and uses the new system to provide them with detailed information about unsold tickets.
What is believed to be a unique analytical model developed by the Tickets Cloud team enables users to do geo-targeting, analyze sales and Internet traffic, and segment both ticket distributors and end customers. The system makes it possible to generate stats for e-ticketing and paper tickets separately.
In addition, Tickets Cloud is said to offer its partners full legal support and risk insurance options.
The formal launch of the new system is slated for September 2014.