Tuesday, November 25, 2008

General Catalyst leads $5.5M funding of event ticket search engine

By Mass High Tech Staff

Local venture capital and private equity firm General Catalyst Partners, of Cambridge, led a $5.5 million financing round of California-based FanSnap, a live event ticket search engine. FanSnap, which is working in beta mode, said it plans to continue growing its ticket provider base and building its search engine and team.

The funding was the second by General Catalyst, which also led an earlier $5 million round.

Founded in 2007, FanSnap launched its beta trial version in September. The site searches available ticket by event, price range, series or seating section. The company is headed by ex-StubHub Inc. chief marketing officer Mike Janes as CEO.

General Catalyst Partners, founded in 2000, counts among its portfolio companies Brightcove Inc., Kayak Inc., JumpTap Inc. and BBN Technologies. The firm has approximately $1 billion under management.