Jump, the ticketing specialist founded by New York Yankees legend Alex Rodriguez and his business partner Marc Lore, has raised US$20 million in funding, according to Bloomberg.
According to the news reports the seed funding for the startup was led by Forerunner Ventures and included investment from Courtside Ventures, Will Ventures and Mastry Ventures, MetaLab, and Drive by DraftKings.
The startup company will specialise in ticketing services, as well as e-commerce and event experiences.
In addition the platform is set to offer dynamic ticketing, enabling users to upgrade seats during games.
The company seeks to end the market dominated by Ticketmaster after they merged with Live Nation to form Live Nation Entertainment in 2010.
Jump will use the latest funding to expand its workforce, including hiring more engineers, to further develop its products.
We need a challenger brand like Jump to play in the space, after the fallout of Ticketmaster’s decision to cancel Taylor Swift ticket sales to the general public, which has prompted a legal battle.–
