Tampa-based startup Satisfi Labs has merged with a New York-based artificial intelligence startup.
The New York startup Broadw.ai was a sales and marketing service for live events and tickets to Broadway shows. According to a release, the move expands the startup's service for ticketing live events. Satisfi Labs sells a generative AI-powered chatbot for events and ticketing platforms worldwide.
Merging "is going to give us a lot of momentum to focus on this as one of our core new developments or innovate on top of what we have," said Donny White, CEO and co-founder of Satisfi Labs.
The firm will remain as Satisifi Labs. Financial details of the merger deal were not disclosed.
"Financially, [the deal] is a very positive thing for Satisfi Labs and its investors from a deal structure, but it's also extremely positive for our customers that now we're focusing on this commerce technology to give them new products," White said.
Micah Hollingworth founded Broadw.ai in 2018, leveraging his background as a theater operator on Broadway, White said. Broadw.ai raised $800,000 in a seed round in 2018. Hollingworth now joins Satisfi Labs as the head of entertainment.
"Hollingworth's resume speaks for itself, and we are happy to have him aboard as we transform the way the entertainment industry interacts with AI," White said in a statement.
The two companies have worked together since 2018 and decided it was time to combine products and goals, White said.
"In this increasingly hectic and challenging space, our companies together are best equipped to provide our clients a specific, safe and powerful way to utilize AI," Hollingworth said in a statement.
Satisfi Labs moved its headquarters from New York to Tampa in 2022. It works at Tampa nonprofit startup hub Embarc Collective and has six employees in the region.
Tampa Bay Lightning owner Jeff Vinik, Google and Major League Baseball have invested in Satisfi Labs. In September 2023, Satisfi partnered with one of the largest ticketing platforms in the world, AXS.
