The Chesterfield County-based tech company OccasionGenius has completed a $2.15 million investment round that will enable the company to roll out its “event discovery” service to more customers.
“Essentially, this is kind of like us coming out of stealth mode,” said OccasionGenius co-founder and CEO Nate Marcus, who describes the company as an “event discovery technology company.”
The company, founded as PartyRVA in 2015, was originally created as an online private events marketplace where people who were organizing group events could search for venues.
OccasionGenius has since pivoted to become a business-to-business service provider, with its target customers being businesses that can benefit from providing information about local events to their customers.
OccasionGenius collects and aggregates data about events in an area and then uses artificial intelligence to process and optimize that information for client businesses who want to offer events information that matches their customers’ preferences.
“We have been talking to hotel companies,” Marcus said. “We have been talking to credit card companies, and even dating apps and babysitting services.”
Hotels, for instance, could use the data to provide better information to guests about local events they might be interested in. A dating app might use OccasionGenius to offer recommendations for a date based on the matched pair’s interests.
OccasionGenius has two pending patents on its technology, Marcus said.
“We have positioned ourselves to be a data company,” he said. “The way I like to think of it is that our data is like a Lego block, and these companies want to build different things from that.”
OccasionGenius employs 15 people and likely will hire three to five more employees, mostly with training and experience in data science, Marcus said.
In December, OccasionGenius sold the events marketplace part of its business to a new startup called EventZingo, which plans to keep the service going.