Seatwave raises $17 million

Lookout StubHub, London based ticket exchange service plans to use funds for geographic expansion

Seatwave, an Online ticket exchange service has raised $17 million in Series D funding led by Accel Partners.  Also, joining the round are Fidelity Ventures, Atlas Venture, Mangrove Capital Partners and Adinvest.  

London based Seatwave functions similar to StubHub and Viagogo, where users can use the site to buy and sell tickets for theatre, sports, music and other live events. 

In April of 2009, comScore reported that Seatwave was Europe’s largest ticket exchange marketplace with 1.9 million unique visitors.  Named “Europe’s fastest growing digital media company,” by GP Bullhound Media Momentum Awards 2009, Seatwave says it has seen its revenue rise 2,203% in the past two years.  

Seatwave was founded in 2006 by Joe Cohen.  Cohen held senior executive positions at Ticketmaster and Match.com.

Seatwave has raised a total of $53 million to date, including this round which it plans to use for general corporate purposes and continued geographic expansion of its services.  No specific regions were stated.