Bigtree Entertainment, the company that operates online entertainment ticketing platform BookMyShow.com has raised over Rs 550 crore led by US-based growth equity fund Stripes Group.
All existing investors in the company, SAIF Partners, Accel Partners and Network18 Media and Investments Ltd have also participated in the current round.
This is the largest round of raising funds for the company, which last raised around Rs 150-crore in 2014.
According to Ashish Hemrajani, CEO, and co-founder, BookMyShow, the funding would be used to enhance user experience through data analytics engine, and to build contextual entertainment content including videos, reviews, discovery and also "towards rolling out exclusive entertainment experiences on BookMyShow, enhancing the overall offering for our users, while we hopefully build out a 360 degree gateway of entertainment in India".
Founded in 2007, BookMyShow is India's largest online entertainment ticketing platform that allows users to book tickets for movies, plays, sports and live events.