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Times Square ticket aggregator company TicIQ Inc. has raised $1.7 million from Contour Venture Partners and iNovia Capital, "BetaBeat" reports.
TiqIQ has six employees in New York City and nine at its development center in Tel Aviv. The company offers tickets to sports games, music performance, Broadway and off-Broadway shows, and other events. The company, founded in 2009, says it was founded to make, "buying event tickets more transparent, efficient, and simpler. We deliver on that mission each day by providing ticket buyers with real-time information on the latest price trends, and access to the best deals from all sellers - for any event."
TiqIQ CEO Jesse Lawrence told "BetaBeat" that the company’s tech team is based in Tel Aviv, because it’s less expensive to pay developers there. Although the salary gap is shrinking, he said, “the talent pool remains exceptional,” citing the tech training Israelis get in the army. "It’s gotten a little less meaningful but there’s still a good cost advantage to tech development in Israel."
TiqIQ has financed its operations to date from angel investment and $2-5 million revenue from partnerships with 1,000 publishers, including "SBNation, "The Washington Post", and the "New York Post".
TiqIQ says that its platform generated almost five million visits in November.
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