Bach, a Philadelphia-based bachelorette party planning app, has raised an $8 million seed round from investors including executives with ties to dating apps Tinder and OkCupid.
The round was led by Corazon Capital, where Phil Schwarz, the former chief marketing officer of Tinder, and entrepreneur Sam Yagan, who co-founded OkCupid and SparkNotes, are partners. Freestyle Capital and Oversubscribed Ventures also participated in the round, as did Rich Paul, the founder of Klutch Sports Group, and Mark Lawrence, the CEO of SpotHero.
The startup, which was founded in 2017 and launched in 2020, works to help bachelorette groups coordinate, plan and book parties in 10 cities across the country. In the app, a group of users can book Airbnbs, vote on what to do and split bills, among other features.
With the funding, the startup hopes to capitalize on pent up demand in and around the wedding industry, which is poised for its biggest year in 40 years as Covid-19 restrictions ease.
One of Bach's goals is to "own" the niche bachelorette travel market. CEO and Founder Mike Petrakis said the company expects revenue and user growth to grow five to six times year-over-year. The company is closing in on 100,000 active monthly parties, a milestone it hopes to hit in June. In 2021, Petrakis said the company topped out at about 20,000 active parties, which consist of about five or six people each.
Petrakis said the funding will also go in part to ensuring that the company has enough supply to fit the pent up demand. Bach currently offers about 800 "experiences" that bachelorette parties can add to their itinerary. Experiences can range from a "Mimosas and Murals" tour in Nashville to a private yacht charter in Miami to goat yoga in Scottsdale.
"It's a good start and from there we will look to identify the gaps," Petrakis said. "We just want to make sure that we've addressed the best things to do for people, especially on a Saturday."
Bach currently offers parties in Austin, Chicago, Denver, Nashville, Las Vegas, Miami, New Orleans, Palm Springs, Savannah and Scottsdale.
In addition to growing within the bachelorette party market, Bach is tracking and learning what its users like and eyeing possible areas for expansion. Petrakis said that could mean extending into bachelor parties or non-wedding affiliated group trips.
"We will absolutely open up the brand when the time is right," Petrakis said. "I believe strongly in owning a niche market opportunity first before we think about expansion."
With the new investors' expertise in dating apps, there could be another opportunity for expansion. "There is a natural progression from dating apps to Bach to [wedding registry platform] Zola," he added.
Bach currently has 16 employees, up from seven a few months ago and Petrakis expects headcount to "increase dramatically" in the next two years, he said.
