Preciate, a Dallas, TX-based platform designed to allow businesses and teams to grow authentic relationships through virtual business socials and peer recognition technology, closed a $4.6m seed funding round.
The round was led by Inspiration Ventures with participation from Founders Capital Partners and the Santa Barbara Angel Alliance, along with angel investors that included fifteen prominent CEOs.
The company intends to use the funds to scale product development and marketing functions, as well as hiring for a number of roles.
Led by Ed Stevens, CEO and co-founder, Preciate provides a virtual socializing platform, Preciate Social, which provides a fully immersive experience that replicates the atmosphere of real-life business socials and mixers. Its patent-pending Social PresenceTM technology enables the expression of social signals and cues by allowing users to move away from or toward people to start a conversation, hear the background noise of other people chatting and give toasts.
Preciate Social allows companies to create a fully customized and memorable communal experience. Companies hosting an event can create custom background themes and personalize the music just as they would for a live event. Companies can hire live performers while its Convos feature provides built-in ice breakers to help get the conversation started.