Providence Strategic Growth Invests in ShowClix
PITTSBURGH, PA – ShowClix, Inc., the leading cloud-based provider of full-service event ticketing, today announced it has received a strategic investment by Providence Strategic Growth (“PSG”), the growth equity affiliate of Providence Equity, a global private equity firm with more than $50 billion in assets under management. In connection with the investment, ShowClix CEO Tom Costa will be retiring, and Brian Arnone, will be promoted to the title of President and COO. Tom will continue to assist the ShowClix team as a senior advisor.
ShowClix has a rich history of bringing to its customers industry leading innovations, such as the first iOS ticket scanner, a first of its kind handheld RFID admissions solution, and Agent, the industry’s first automated digital assistant. ShowClix recently launched several analytical tools that deliver actionable insights that help live event organizers manage participant engagement and grow their business. Founded in 2007, ShowClix has processed over a billion dollars in ticket sales across 37 countries with its internationalized ticketing platform.
"We've dedicated ourselves to going beyond simple event ticketing and ensuring the success of our clients and it is energizing to find a partner like PSG who shares our commitment to the growth of the event technology industry,” said Mr. Arnone. “We’re looking forward to leveraging PSG’s knowledge, resources and deep expertise in the segment in order to further enhance our customer commitment, accelerate our growth and continue our strong track record of innovation."
Gopi Vaddi, Managing Director, Providence Strategic Growth said, “ShowClix offers a compelling technology platform that helps its customers manage their event experience, and has a category leadership position in the rapidly expanding event industry. They are well-positioned to continue their product innovation momentum and expansion into new markets. We look forward to partnering with Brian and the rest of the ShowClix team as they enter their next phase of growth.”
“Brian is a proven and capable leader and I am pleased to leave the company in such good hands,” said Tom Costa, former ShowClix CEO. “Further, having spent time with Gopi and the PSG team during this transaction, I have no doubt that they are the right partners for ShowClix. Their knowledge of our space and the opportunity in front of ShowClix coupled with their investment approach made the transaction a simple and enjoyable process. I look forward to them bringing the same skills to bear for ShowClix and look forward to its success.”
SEG Capital Advisors acted as exclusive financial advisor and Pepper Hamilton LLP acted as legal counsel to ShowClix. Weil, Gotshal and Manges LLP acted as legal counsel to PSG.
ShowClix, Inc. provides event technology and access control solutions to professional event organizers around the world. Founded in 2007, ShowClix is dedicated to enhancing its cloud-based software with dedicated client success managers, an in-house call center, marketing support, and experienced on-site teams. The platform, which can be tailored for any event, aims to help professionals sell more tickets and create memorable experiences for their customers. For more information on ShowClix, visit showclix.com/ticketing.
"ShowClix is a great partner with The Washington Auto Show. They developed innovative strategies for efficiency, enabled us to sell more tickets, and provided excellent on-site support. We look forward to working together in 2018.”
ISABEL GARCIA - Washington Area New Automobile Dealers Association
"As Emerald City Comicon continues to grow and provide the best experience we can for some of the best fans in the business, it is critical we have partners like ShowClix that provide us with the support we need and great people that give it that personal touch."
MARYKATE GOODWIN - ReedPOP
"We love working with ShowClix because their team goes above and beyond providing excellent customer service. These guys don't quit until they've done everything they can to make our jobs easier. We consider them part of our team."
MIKE RUBINO - Arcade Comedy Theater
"ShowClix is a great partner for our Fantasy in Lights event. They have the timed entry ticketing and marketing tools we need and provide excellent support and guidance. It's been a pleasure to work with them."
JANICE GRANT - Callaway Gardens
About Providence Strategic Growth
Providence Strategic Growth Capital Partners L.L.C. (“PSG”) is an affiliate of Providence Equity Partners L.L.C (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies, primarily in North America. Providence is a premier, global asset management firm with more than $50 billion in capital under management across complementary private equity and credit businesses. For more information on PSG, visit www.psgequity.com and for more information on Providence Equity, please visit www.provequity.com.