MeetMeTix is live online with its first customers and has closed the initial tranche of its A round. Total funding to date is under $500K, and the proceeds of this latest financing are primarily intended for the national rollout of the MeetMeTix product now in the market. The A round remains open, but possible strategic partners are also part of the equation from this point forward. The company’s total funding requirement is well under $1M to profitability, and the current cash on hand provides a lengthy runway to prove the concept and get to the next stage.
Headquartered in Austin, MeetMeTix operates from offices in Austin and Atlanta with additional development resources in San Francisco. Of the funding to date, 61% has come from Austin angels, 38% from Atlanta, and 3% from New York. Austin based chairman Ben Dyer refers to this as the new “geo-flexible” mode of startups. MeetMeTix is providing a cloud-based mobile service for ticketing in the last hours and last miles around major sports venues where bandwidth is highly constrained and apps won’t work. Technical co-founder and EVP Steve Crawford and his team have assembled a cocktail of mobile web, SMS, and payments technologies to fill a gap currently uncovered by the major ticket providers. CEO Jesse Dyer describes this “not as a solution aimed solely at scalping for profit, per se, but as a broadly applicable service for anyone who wants to buy or sell extra tickets on game day with extreme convenience and security.” The company is focused this fall on major college football games but will expand across sports and eventually into entertainment categories.
Ben Dyer, best known as the founding president and CEO of Peachtree Software, says: “We are especially pleased that our investor group includes two individuals with direct experience in the ticketing industry who are already bringing significant value to the company. And, we appreciate the considerable help we have received from the Austin startup ecosystem, particularly the resources of Hall Martin’s Texas Entrepreneur Networks.