TikTok-like Small Event Discovery Startup ‘Posh’ Raises $22M

Event startup Posh has secured $22 million in Series A funding, positioning itself as the TikTok for small events. The platform already boasts 2 million registered users and $95 million in lifetime bookings.

Founded in 2020, Posh initially offered SaaS solutions for event organizers. Now, it focuses on its consumer app, which mimics TikTok’s vertical scroll to discover events. Available on iOS and Android, the app connects users to intimate gatherings, fostering personal connections.

Its focus on gatherings of up to a few hundred people prioritizes connections within familiar social circles. Meanwhile, the app’s feed allows users to browse nearby and trending events effortlessly.

Led by Goodwater Capital, with participation from FirstMark Capital, Companyon Ventures, and Epic Ventures, this round brings Posh’s total funding to $31 million. With this new funding, Posh to expand its team from 26 to 40 and enhance its app’s event recommendations capabilities.

“Consumers can use Posh to discover the best events, experience connection, and grow their social communities,” said Hatim Khety, a partner at Goodwater Capital.

Recent updates include a feature that lets users import contact lists to see friends on the platform. Posh also plans to introduce a ‘For You’ feed based on user connections and past event attendance. It also supports organizers by hosting tutorials and providing resources for event planning.

Notably, its co-founders report a significant growth in app-based ticket orders. They aim to capture 25% of all ticket sales through the app by year-end. Currently, Posh hosts around 5,000 events a month, primarily centred on nightlife and social activities. However, it now plans to diversify into fitness, art, and food events.

The platform charges no fees to organizers but takes a 10% + $0.99 fee per ticket sold. With an average of 350,000 bookings monthly, Posh is working on converting more one-off users into regular attendees through personalized recommendations. The challenge lies in increasing the variety of events to match consumer demand.

Posh’s unique approach helps users discover underground and distinct events. With Price and Taylor-Lemire’s expertise in the event space, Posh is poised for rapid growth, reshaping how people find and attend small events.

Learn more about Posh by visiting its website here.