# Red Sixty One

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/red-sixty-one

- Industry: Software
- Headquarters: Edinburgh, UK
- Website: www.red61.com
- Total disclosed funding: $2.9M
- Latest round: Series A (May 17, 2021)
- Investors on record: 2

## About

Red Sixty One Limited is a technology company specializing in a ticketing platform that enhances event management and ticket sales across various sectors, including festivals, theatres, and local governments.Founded in 2002 in Edinburgh, UK, Red Sixty One Limited provides an innovative ticketing solution tailored for diverse clients. The company, led by founder and CEO Tony Davey, has engaged in a total of 4 deals, with its most recent funding round being a Series A in May 2021, which raised GBP 1.4 million from investors Par Equity and Scottish Investment Bank. The firm has not undergone any significant business pivots or structural changes since its establishment.Red61 offers a comprehensive ticketing platform designed to facilitate event management and streamline ticket sales for a diverse range of clients, including festivals, large theatres, arts centres, and local government services. The core functionalities of the platform include automated processes for ticket sales, access control, and integrations with digital wallets, all aimed at enhancing the user experience for both event organizers and attendees. Key features include collaborative cross-selling capabilities, white label websites, detailed reporting and analytics tools, and CRM and marketing integrations, which help users optimize their marketing strategies and improve audience engagement. The platform is utilized by various venues and organizations across multiple geographical markets, including the UK, North America, and parts of Europe, focusing on enhancing community connections through arts and culture initiatives.In 2021, Red61 reported a revenue of GBP 1,077,904.90, with an EBITDA of GBP -1,709,959.50. The company generates revenue through a subscription-based model, where clients pay for access to its ticketing solutions and associated services. Red61 establishes partnerships with venues and organizations, providing them with tools to manage ticket sales effectively while ensuring compliance with global security standards. Each transaction may involve the sale of tickets through clients' platforms, with revenue typically derived from service fees applied to each ticket sold. The pricing structures are aligned with the features selected, allowing clients to customize their packages based on specific needs, including automated promotions and reserved seating plans. This transactional approach enables Red61 to maintain long-term relationships with its clients while continuously enhancing its service offerings.In May 2021, Red Sixty One Limited raised GBP 1.4 million in Series A funding, co-led by returning investors Par Equity and Scottish Investment Bank. The company plans to utilize this funding to accelerate its product development and support ongoing global client acquisitions. Red61 aims to launch new features and enhancements in its ticketing platform to better serve its clients. Additionally, the firm is focusing on expanding into new geographic markets, specifically targeting opportunities in North America and parts of Europe by the end of 2023.

## Funding rounds

- Series A, May 17, 2021, $2M — PXN Group, Scottish Investment Bank
- Seed, Aug 10, 2015, $0.9M — PXN Group

## Investors

- PXN Group (https://capitalatlas.ai/funds/pxn-group) — Seed, Series A
- Scottish Investment Bank — Series A