18 July 2018, India:
BookMyShow has raised $100 million in Series D round of funding. The funding round was led by TPG Growth. Existing investors also participated in the funding round.
The fresh capital will fuel BookMyShow’s growth plans as it transforms into the ultimate ‘Entertainment Destination’ for its customers, the company said in a statement.
“BookMyShow is excited to welcome TPG Growth as our newest partner. They bring with them extensive experience across the global media and entertainment sector, which will be instrumental as we look to accelerate our growth plans in this space. The strategic value that all our investors continue to provide us will also be of immense importance as we begin a new chapter of our standout story,” said Ashish Hemrajani, Founder and CEO, BookMyShow.
“TPG Growth is committed to partnering with dynamic companies and entrepreneurs that are at the forefront of global media and entertainment”, said Bill McGlashan, TPG Growth Founder and Managing Partner and Co-Founder and CEO of The Rise Fund.
Bill McGlashan added, “”BookMyShow has a tremendous chance to transform how Indian consumers discover and experience entertainment, and we’re looking forward to working with Ashish and the team to capitalize on this opportunity.”
‘”Traditionally dominated by movies, India’s entertainment industry is rapidly changing and expanding, driven by factors such as rising income levels, growing consumer appetite, and higher internet usage,” said Akshay Tanna of TPG Growth.
Akshay Tanna added, “In partnering with BookMyShow, we saw the opportunity to invest in an innovative company that is set to benefit from these trends and become the leading organization across entertainment genres.”
Avendus Capital was the exclusive financial advisor to BookMyShow. Shardul Amarchand Mangaldas & Co. were the legal advisors representing the company during this round.
(Image – BookMyShow)