New York – SeatGeek, the provider of a predictive pricing
service for sports and concert tickets, has raised $1 million in its first
round of financing, led by Founder Collective.
NYC Seed also participated in
the investment round, proceeds from which will be used to build out the
company’s engineering and business development teams.
Founded in 2009 after
being incubated at DreamIt Ventures in Philadelphia, New York-based SeatGeek
has built a database of millions of historical ticket transactions, and uses an
algorithm to crunch this data and spit out price forecasts.
For baseball
tickets, the company says, it also considers variables like a team’s record,
the weather, venue, and even the pitchers scheduled to play.
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