Event startup Posh raises $22 million to enhance personalization and expand event categories
A growing event platform has secured funding to improve its recommendation capabilities and diversify its offerings, aiming to become the go-to app for discovering niche gatherings. Posh, which focuses on intimate events for hundreds of people where attendees may know each other peripherally, has raised $22 million in a Series A round led by Goodwater Capital. Additional participants included FirstMark Capital, Companyon Ventures and Epic Ventures, bringing Posh’s total capital raised to $31 million.
Founded in 2020, Posh began as a website for organizers to host gatherings but has since evolved its app to connect individuals to happenings nearby or of interest. The platform sees approximately 5,000 events held each month, though co-founders Avante Price and Eli Taylor-Lemire acknowledge certain periods see higher activity and aim to level that out. Proceeds from the new investment will expand Posh’s 28-person team and underpin updates making it easier to find suitable recommendations among the two million registered users.
Enhancements will introduce personalized recommendations based on a user’s network and past events. The “For You” feed relies on both direct and indirect connections as well as preferred categories to surface potential matches. Posh sees these suggestions as pivotal to engaging infrequent visitors and converting them to repeat users. Additionally, the capital will help diversify Posh’s inventory beyond current nightlife and social strengths to integrate fitness, arts and culinary events.
Posh takes a 10% cut plus 99 cents per ticket, which supports a freemium model for organizers. While some months prove profitable, growth remains the priority as just over one-third of app users book a single experience. Investors foresee Posh playing a key role bringing audiences together offline as the next major social platform. If the startup succeeds in offering users more relevant options across different interests near them, Posh may well build communities and connections fostering ongoing real-world engagement.