Credo Ventures invests $ 3 million in Intellitix

Posted on November 16, 2011 by Ondrej Bartos

Intellitix, the market leader in RFID-based event management solutions and cashless payment systems, has raised $ 3 million via new shares issue. The capital will enable the company to drive international sales expansion and continue developing a strong technological platform. Intellitix was founded in 2010 by two serial entrepreneurs, Serge Grimaux and Martin Enault, having a total of 40 years of experience in event promotion and ticketing.

The company provides fail-safe systems that can seamlessly integrate access control, cashless payments, social media and brand activity. Since its establishment, the company activated over one million RFID Tags at festivals including Coachella, Bonnaroo, Lollapalooza, Outside Lands, Electric Zoo and Austin City Limits. Intellitix significantly reduces queuing time and eradicates ticket fraud and unwanted resale, thanks to its proprietary software and fully integrated hardware that has proven to be 100% secure and reliable. According to company research, festival fans love the practicality and reduced waiting times that RFID chips offer compared to standard ticketing solutions.

Serge Grimaux, CEO of Intellitix says: “The newly raised capital will enable our company to grow much faster, helping the thousands of event organizers worldwide that need our help. RFID technology will change the face of festival-going over the next few years and we’re at the forefront. We thank our investors for the trust and support that they have in us. We are on a very exciting journey.”

“The Intellitix solution not only solves the bottleneck of access control, it also provides additional sources of revenue for event organizers. The selling proposition is very strong and the pipeline of prospective customers is large. We believe that the company has great potential to grow the business significantly in the near future,” says Ondrej Bartos, Partner at Credo Ventures.

“Despite being in early stage of development, Intellitix has already delivered a solution to significant customers and successfully proven its innovative business model. I have known Serge for many years and I am confident that he will achieve success on a global scale, with this new venture” says Markus Pedriks, Chairman of the Investment Committee and Partner at Credo Ventures who is joining Intellitix’s Board of Directors.

Credo Ventures’ legal counsel in the transaction was White & Case.

For more information about Intellitix, visit www.intellitix.com.