Paciolan Secures $20M in Expansion Financing Veteran Ticketing Solutions Provider Receives Strong Venture Backing
Irvine, Calif. (1/21/2003)

Paciolan Inc., a leading digital ticketing enabler, today announced that it has secured $20 million in expansion funding from Silicon Valley-based Technology Crossover Ventures (TCV). TCV will assume two seats on the board of directors. TCV Principal Will Griffith and Netflix (NASDAQ: NFLX) CFO Barry McCarthy will join the board effective January 29th, 2003.

Paciolan provides ticketing solutions that enable the absence of third-party distributors through a venue-secure website. By adopting “in-house” ticketing solutions, organizations are able to exclusively maintain control of their customer relationships, brands and revenue potential.

The company will use the financing to fuel its position as a dominant ticketing, fundraising and marketing solutions provider to live entertainment venues, as well as expand its 25% market share of the ticketing sector. The financing will accelerate market expansion and penetration of released products, including Access, Ticket Management and Secondary Ticketing (e.Access™). e.Access is the internet exchange, transferring, reselling and authentication of digital tickets via a trusted source, the venue.

“This strategic growth financing from TCV in conjunction with Paciolan’s advancements in digital ticketing allows us to more aggressively empower our clients to maximize sales by further leveraging the capabilities brought on by the Internet,” stated John Hnanicek, Paciolan’s CEO. “Having TCV as a partner will allow us to better enable our clients to leverage their customer relationships. This translates to increasing revenues exclusively without sharing customer relationships/data and fees with a third-party distributor".

“Consistent with our investments in Expedia and Fandango, TCV has been focused on digital ticketing for some time,” said Will Griffith, principal. “We were attracted to Paciolan’s business model as it enables venues to control ticket operations so that they can realize the revenue potential and life-time value of their customer relationships. Given the continued growth of the internet, venues are becoming less reliant on third party ticket distributors. We are pleased to partner with Paciolan as we believe they are very well-positioned to take advantage of the changing market dynamics”.

About TCV
TCV is a leading provider of growth capital to technology companies, providing funds to expansion, late-stage private, and public companies — and managing a technology focused public equity vehicle. Founded in 1995, with more than $2.5 billion under management, the firm has twelve partners and is headquartered in Palo Alto, California.

Laura Christine, Director of Marketing
Paciolan
17305 Von Karman Ave.
Irvine, CA 92614
Tel: (949) 476-1212
Fax: (949) 476-2235
editorial@paciolan.com