Atom Tickets, the Santa Monica-based online ticket selling startup, raised $60 million in new funding during an investment round led by Fidelity Management & Research Co.
This funding comes less than two years after Atom Tickets raised $50 million from movie studios Disney, 20th Century Fox and Lionsgate. The movie studios also participated in this latest round of funding in an attempt to help Atom increase their online ticket sales market.
With this additional capital, Atom will improve its movie-ticketing app and website as well as increase their marketing presence.
“We’re pleased to participate in this latest round of financing for Atom Tickets, which has demonstrated enormous traction with exhibition partners, studios, and moviegoers during the past year,” Lionsgate vice chairman Michael Burns said in a statement.
Atom stands out from their main competitor, Fandango, by allowing its users to invite their friends to see a movie while they all pay separately. It also enables users to purchase concessions through their app. Atom Tickets uses the data to make Netflix-like recommendations and will offer promotions on concessions and tickets. In addition, Atom Tickets can provide data about moviegoers to the studios, helping with marketing and advertising.
Founded in 2006, Atom Tickets now offers tickets to nearly 20,000 screens across the U.S. and Canada. According to a statement made by the company, they have tripled registered users and ticket sales within the past year.
“We’re leading and delivering on what the industry needs,” co-founder and Chairman Matthew Bakal said.