The online ticketing platform BookMyShow, which accounted for over 50% ticket sales during the Indian Premier League, 2018, has raised $100 million in the Series D funding.
Bigtree Entertainment Pvt Ltd, which owns and operates BookMyShow, announced that it has executed definitive documents to raise $100 Mn in Series D funding round led by TPG Growth, the middle market, and growth equity investment platform of alternative asset firm TPG.
The funding round has also seen participation from existing investors. This fresh infusion of funds will fuel BookMyShow’s growth plans as it transforms into the ultimate ‘Entertainment Destination’ for its customers.
Ashish Hemrajani, founder and CEO, BookMyShow said, “BookMyShow is excited to welcome TPG Growth as our newest partner. They bring with them extensive experience across the global media and entertainment sector, which will be instrumental as we look to accelerate our growth plans in this space. The strategic value that all our investors continue to provide us will also be of immense importance as we begin a new chapter of our standout story.”
Bill McGlashan, TPG Growth founder and managing partner, and co-founder and CEO of The Rise Fund further believe that BookMyShow has a tremendous chance to transform how Indian consumers discover and experience entertainment. “We’re looking forward to working with Ashish and the team to capitalise on this opportunity,” he added.
For many years, TPG Growth has been actively engaged in the global media sports and entertainment landscape. Across funds, TPG’s portfolio in the sector includes Cirque du Soleil, Creative Artists Agency (CAA), Moretickets, Spotify, STX Entertainment, and Vice Media.
BookMyShow has also been a ticketing partner for various International Cricket Council events like the ICC World T20 in 2016.