London startup Dice secures $6m fund to expand music ticket app

London-based startup Dice, which sells music tickets on mobiles without booking fees, has secured a $6m Series A funding round.

The funding round, according toTechCrunch, was led by Evolution Equity Partners and supported by existing investors White Star Capital, Designer Fund and Kima Ventures.

Employing over 40 people, Dice has now raised around $10m to date with this latest Series A funding round.

The startup, which specifically targets millennials, is developing a music and data science team who are building machine learning algorithms to provide users with a shortlist of recommended gigs.

Phil Hutcheon, the CEO and co-founder, told TechCrunch: “Machine learning’s a big part of our future as we expand and go into new territories, to help understand new things.

“Because it’s easy to know your own city but when you go into new cities and especially as you expand and scale what are the right venues for this type of artist to play at? Does their audience go to this venue or that venue? What’s the best price to get someone to attend the concert? What was the waiting list like for that artists? The weather? The time of the year? What else is on that night?

“All these things factor in to the success of an event. And one of the things that we’ve been trying to teach promoters is that it’s probably not a good business model to have every concert available go on sale at nine o’clock on a Friday. Maybe stagger it through the week.

“It’s okay for it not to sell out in five minutes. It will sell out, but it might just take a little bit longer. As long as each venue is full on the night, that’s fine. That’s our objective.”

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