Broker Genius, a New York-based provider of a dynamic pricing technology platform for the secondary ticket market, secured a $15m Series A funding round.
Boston-based growth equity firm Volition Capital made the investment.
The company intends to use the funds for additional product development, coverage expansion, and big data and machine learning capability enhancement.
Founded in 2013 by CEO Sam Sherman, Broker Genius provides a pricing automation technology platform in the live event secondary market. The company’s technology enables ticket resellers to use real-time market data to automatically adjust ticket prices. Further advancements in the technology will enable ticket resellers to augment the quantitative market information with qualitative variables. For example, when pricing a baseball game, the company’s software augments market related information with qualitative factors, such as opposing team, starting pitchers, weather and standings.
Broker Genius currently has over 100 employees. To accommodate customers’ needs, the company recently opened two new offices, in Reno, Nevada, to expand support and pricing coverage, and in Barcelona to continue to optimize the product.