Last week, U.K.-based ticketing company DICE secured $122 million in capital during a Series C round of funding. It has now reportedly purchased broadcasting platform Boiler Room for an as yet unspecified amount.
According to Resident Advisor, sources at both companies confirmed the acquisition as part of DICE’s foray into live stream events. Boiler Room will reportedly keep its current staff as well as its London office. Neither company has publicly announced the deal in social media or press statements at the time of writing.
Launched in 2014, DICE touts itself as a scalper-proof ticketing marketplace differentiated by a robust discovery algorithm. The app is currently live in the U.K., France, Italy, Spain, Australia, the U.S. and India. In 2018 the company came under fire for quietly adding booking fees into ticket prices despite running with the tagline “Best Gigs. No booking fees” for their first few years of operations.
Boiler Room has found itself a subject of controversy, especially during the COVID-19 pandemic. The platform centered around broadcasts of DJ performances raised eyebrows when it received a £800,000 grant from Arts Council England while physical venues like Printworks, The Drumshed and Egg London had their applications rejected.
DICE’s Series C investment round primarily came from Vision Fund 2, launched by Softbank in 2019 to aid technology startups. Other investors include iPod and iPhone co-inventor Tony Fadell‘s Future Shape, French entrepreneur Xavier Niel, and Mirabaud Private Equity.
DICE says it will use the capital injection to “significantly grow the company” and offer “an ambitious artist development program,” among other things.