Event platform Posh raised a fresh $37 million to solve one of the quintessential “tarpit” startup ideas: turning the “what are we doing tonight?” group chat into an actual plan.
Founded in 2019 by then‑New York University students Avante Price and Eli Taylor‑Lemire, Posh began as software they built to run their own events after getting cheated by promoters and hitting the limits of Eventbrite. “I was using Eventbrite and other products to manage events, and then realized that the technology components were missing a ton of the capabilities that I needed,” Price told Fortune. That pain point became Posh’s product: a business‑first platform where organizers, not the marketplace, sit at the center. The company is already capturing corners of the events industry which is on track to be worth more than $2 trillion by 2028.
Now, the company has raised its $37 million Series B led by FirstMark Capital with Causeway Ventures, Goodwater Capital, Companyon Ventures, and Epic Ventures, Fortune has exclusively learned.
Posh’s model is straightforward: Posh takes about a 10% cut on paid tickets plus a 99‑cent fee per ticket, its primary revenue stream. In 2024, the company generated roughly $10 million in revenue on more than $83 million in ticket sales (the same year it raised $22 million in Series A funding). Today, the business has grown to an estimated $40 million in cumulative revenue, according to Price, processing $350 million in GMV and 25 million tickets since inception, with top organizers generating over $10 million on the platform. “What you have to do is you have to own the transaction first,” Price told Fortune.
Posh already powers everything from Palm Tree Festival and We Belong Here to brand activations with Lamborghini, Adidas, the NBA, Celsius, HBO, and Complex. The company has also poached talent from Meta, Reddit, Amazon, Hinge, Spotify, Block, and Canva to accomplish its goals. For the first four years, Posh was essentially “Shopify for events,” focused on tooling for nightlife: white‑label pages, SMS CRM, referral kickbacks, linked ticket tiers, and instant payouts. Now, with roughly 50,000 organizers and nearly 8 million users, the center of gravity has shifted toward demand—what Price calls a “Netflix‑style feed” that surfaces parties, activities, food and drink, and other categories based on where your broader social graph is actually going.
“The solved problem is your core group chat,” he says. “The harder problem is those 10 or 20 people you’d love to catch up with but never text. We’re trying to reintroduce that serendipity.”
See you tomorrow,
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The post Exclusive: Posh lands $37M Series B to crack the ‘what are we doing tonight?’ problem appeared first on Fortune.
