SuiteHop, a marketplace for luxury suites at sport and entertainment venues across the United States, today announced the completion of a $1 million equity funding round as well as the successful addition of over $5 million of suite inventory. With inventory from over 550 events, SuiteHop is rapidly expanding to become the trusted leader in the marketplace for purchasing luxury suites. SuiteHop’s streamlined platform allows users to directly book entire suites or individual seats in suites that normally are only sold in single or multi-year contracts, making it possible to obtain the unused luxury suites that were previously difficult to access.
“SuiteHop is changing the market for suite tickets by providing a way for companies and individuals to purchase luxury suite tickets without having to go through a broker,” says SuiteHop CEO Todd Lindenbaum. “Our investors can see the value in a service that provides a benefit to lease owners, potential suite buyers, arena owners and the teams themselves. We expect in the coming months to see even more additions to our large inventory.”
SuiteHop has received funding from a variety of investors from IT professionals to entrepreneurs in the technology and service sectors who understand the value a service like SuiteHop adds to the market.
“SuiteHop has a great business model that just makes sense. It is perfect for small to mid-sized businesses that want access to suites but can’t afford leasing an entire suite for a year,” says investor Jeff Kurtzman, co-founder of Better World Books and Operation Incubation. “With the team’s decade of industry experience, SuiteHop seems like less of a start-up and more like a ‘no-brainer’ business concept that would be profitable at scale.”
Based in Denver, Colorado, the company will use funds to support operations including strategic hires and key marketing initiatives. Currently, SuiteHop has more than 800 listings at 550 events, ranging from top sporting events including NFL, NBA, MLB and NHL to concerts from leading musicians such as Billy Joel,Elton John and Taylor Swift.