The Indonesian startup is an event management and analytics firm which had partnered with Class A events such as Katy Perry and One Direction concerts
Event management and analytics firm Loket today announced that it has secured an undisclosed Series A round led by Sovereign’s Capital, with a participation from East Ventures.
Loket CEO Edy Sulistyo mentioned in a statement that the investment is “much more of a strategic play related to network building and increased visibility.”
“We believe the ticketing and event management business is one that will grow rapidly in Indonesia,” said Luke Roush, Managing Principal of Sovereign’s Capital.
“We believe the systems for managing both ticketing and the event itself will need to become more sophisticated
to both improve the consumer experience and prevent fraud. The Loket team has demonstrated strong traction and leadership in this space,” he added.
The Jakarta-based startup claimed to have secured 80 per cent market share of Class A live music events in Indonesia, with past projects including Katy Perry and One Direction’s concerts. It also claimed to have a ‘positive cash flow’.
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Founded in 2013, Loket’s services ranging from ticketing, gate access control, to crew monitoring system.
It helps companies and event organisers arrange “large scale, revenue generating gatherings” such as concerts, sporting events, expos, and conferences.
The startup claimed to be the largest purveyor of Radio Frequency Identification (RFID) bracelets in Southeast
Asia. The technology is used for access control, brand activation, cashless payments, and big data analytics, which enables Loket to provide analytics information of user behaviour to its clients.
Its crew monitoring system and software also enables event organisers to manage team members better by knowing their activities and whereabouts during the event.
“Going to events should be fun and enjoyable, so the only way to make this happen is to take control of the customer journey from beginning to end. This includes everything from buying the tickets to the ground experience,” Sulistyo explained.
Image Credit: Loket
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