Charleston-based IT Company Receives $200,000
Summerville, S.C. – SCRA’s SC Launch Program recently finalized a $200,000 investment in Charleston-based Sovi, an online marketplace built for concert tickets. This is the second tranche of SC Launch funding for the company that was accepted into the entrepreneurial program in 2016.
Sovi curates concert tickets based on a user’s interests and location. The app consolidates multiple ticket sources from large and small venues and uses predictive analytics to gauge demand. Sovi has sold tickets in 25 cities, at more than 300 venues, for more than 1,200 artists.
“SC Launch has been an integral part of our growth and success as a company.” said Trey Pringle, CEO and Co-Founder of Sovi, “The resources and partnership they provided gave us the necessary leverage to grow our revenue more than 10 times in a small window of time, a true game changer that has set us up for large-scale achievements in the years to come.”
The SC Launch program is SCRA’s entrepreneurial platform that provides mentoring, grants and investments to qualified, South Carolina companies in the Advanced Materials/Manufacturing, Information Technology and Life Sciences industries.
“Sovi’s team has a lot to be proud of; they are a dynamic startup that has seen wonderful growth,” said Bob Quinn, SCRA Executive Director. “We are excited to see how the company is impacting the state and specifically the Charleston tech scene.”
Chartered in 1983 by the State of South Carolina as a public, non-profit corporation, SCRA fosters South Carolina’s Innovation Economy by supporting entrepreneurs, enabling academic research and its commercialization, and connecting industry to innovators.