March 6, 2007 -- TicketsNow, a Crystal Lake, Ill.-based online marketplace for event tickets, received $34 million in growth capital during its first round of institutional funding from venture capital firms, the company reported Tuesday.

The funding was led by Adams Street Partners and included venture capital firms from Chicago and Silicon Valley, the company said.

The proceeds will be used to expand TicketsNow in the online secondary ticket industry, the company said.

"While we are a cash-flow positive operation, this round of funding provides us the growth capital needed to take advantage of the many strategic opportunities in an ever-evolving industry," Mike Domek, founder and CEO for TicketsNow, said in a statement.

TicketsNow ranked No. 369 on the 2006 Inc. 500 list of the nation's fastest-growing private companies.

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