ScoreBig raises $18.3M for its 'name your price' ticket marketplace

Despite advertising certain prices for event tickets, event presenters and resellers are often willing to sell tickets at lower prices if you make an offer, and ScoreBig puts that to use.

The Los Angeles-based company lets customers “name their price” for event tickets and matches them with sellers willing to take their bids. The company is announcing today that it has raised $18.3 million in new funding that it will use to expand its online and mobile products, lock in new partnerships, and grow its user base.

ScoreBig takes advantage of the concept of “market pricing,” meaning a price that’s not advertised, usually lower than the listing and the lowest the seller is willing to accept. Other companies, such as Priceline and Greentoe, which we recently covered, also help customers save money by helping buyers and sellers trade at those prices.

ScoreBig says it has special partnerships with event resellers and presenters that give it access to lower, unpublished prices. ScoreBig is able to dynamically match buyers and sellers in order to maximize event attendance and ticket price thanks to its algorithms.

The company says it saves buyers 40 percent on average.

Hearst Ventures led the new round, with participation from new and existing investors.

ScoreBig was founded in 2009 by Joel Milne and Adam Kanner. The company previously raised $31.2 million in funding.