Series A11 February 2019

Spektrix raises £5m from Foresight to fuel product development and international growth

Foresight has taken a minority equity position in the business through its venture capital trusts.

£5.0MSeries A

Spektrix provides cloud-based ticketing, marketing and fundraising software for the arts sector. The firm supplies SaaS tools that help cultural organisations manage customer relationships and revenue generation.

London-based software provider Spektrix has secured £5m in growth capital from Foresight to accelerate product development and support international expansion, particularly in North America. The transaction represents the first external funding taken by the company since its inception, with Foresight taking a minority equity stake via Foresight VCT and Foresight 4 VCT.

Founded in 2007, Spektrix supplies cloud-based ticketing, marketing, fundraising and CRM software to almost 400 cultural organisations. The firm works with prominent venues such as the Barbican Centre and the Royal Conservatory of Music, helping clients deepen audience engagement and analyse sales trends.

Foresight Group backs fast-growing British companies across various sectors. Investment manager Matthew Evans-Young noted that the firm was impressed by the team and their mission, and aims to help Spektrix replicate its domestic success in international markets.

From the founder

"The goal of Spektrix is to empower arts and entertainment organisations with the tools they need to excel in the evolving arts economy. This injection of growth capital gives us additional resources to expand strategically, increase the pace of innovation, and fully realise our ambitions for the sector on both sides of the Atlantic."

Michael Nabarro

CEO at Spektrix

Investor perspective

"Throughout the process we have been impressed by the ambition and quality of the team, and their commitment to the Company’s mission of transforming how organisations engage with their audiences. The success which Spektrix has achieved to date, without external funding, means we are excited to support them as they look to replicate their impressive track record of success and innovation — at home and internationally — in the coming years."