Wavework Company Profile

Background

Wavework is a specialized Experience Management Platform designed to enhance premium customer service within the sports and entertainment industries. Founded in 2015 by Jessica Gaffney, the company aims to streamline operations and foster meaningful relationships between organizations and their high-value clientele. By integrating various aspects of premium experience management into a centralized hub, Wavework addresses the complexities of delivering exceptional services to sophisticated customers.

Key Strategic Focus

Wavework's strategic objectives include:

Operational Efficiency: Automating workflows to reduce inefficiencies and free up time for staff to engage with clients.

Client Engagement: Providing tools for real-time, personalized communication to strengthen relationships with premium customers.

Data-Driven Insights: Utilizing analytics to anticipate client needs, predict trends, and inform decision-making processes.

Seamless Integration: Ensuring compatibility with existing CRM systems, mobile applications, and websites for a cohesive user experience.

The platform primarily serves professional and collegiate sports teams, leagues, entertainment venues, and agencies, focusing on enhancing the premium experience for high-value clients.

Financials and Funding

In its early stages, Wavework secured $1.5 million from angel investors, which was allocated towards product development. In March 2023, the company was acquired by PlatForce (formerly Multilot), a leading compliant engagement platform. This acquisition aims to combine Wavework's experience management capabilities with PlatForce's expertise in compliance and engagement, thereby enhancing service offerings to clients.

Technological Platform and Innovation

Wavework's platform offers several proprietary features:

Centralized Hub: A one-stop solution that integrates event management, ticketing, parking, catering, and customer service.

Predictive Analytics: Tools that capture critical data to anticipate client needs and predict trends, aiding in better decision-making.

Customization: White-labeled and customizable to align with clients' branding, enhancing the user experience.

Monetization Opportunities: In-platform advertising options that open new sponsorship opportunities.

These innovations set Wavework apart by providing a comprehensive, user-friendly platform tailored to the unique demands of the sports and entertainment industries.

Leadership Team

Jessica Gaffney – Founder & Chief Executive Officer

With over 20 years of experience in sports and entertainment hospitality, Jessica founded Wavework to address the challenges in premium customer service. Her background includes managing luxury suite holders for the New York Jets and directing premium services at Giants Stadium. Post-acquisition, she joined PlatForce as Vice President of Sports and Entertainment, continuing to drive innovation in the industry.

Leadership Changes

Following the acquisition by PlatForce in March 2023, Jessica Gaffney transitioned to the role of Vice President of Sports and Entertainment at PlatForce, bringing her extensive industry experience to the combined entity.

Competitor Profile

Market Insights and Dynamics

The premium seating sector constitutes over 15% of seat inventory across professional sports in North America, generating up to 40% of a club’s total seats and billions of dollars annually. This underscores the significant market potential for platforms like Wavework that aim to optimize premium customer experiences.

Competitor Analysis

While specific competitors are not detailed in the available information, the market includes various experience management platforms and customer relationship management (CRM) solutions tailored to the sports and entertainment industries. Wavework differentiates itself through its comprehensive, industry-specific features and seamless integration capabilities.

Strategic Collaborations and Partnerships

The acquisition by PlatForce represents a significant strategic collaboration, combining Wavework's experience management expertise with PlatForce's compliance and engagement solutions. This partnership aims to provide enhanced services to clients in the sports and entertainment sectors.

Operational Insights

Wavework's platform is designed to address common challenges in premium experience management, such as inefficiencies in operations and the need for personalized client engagement. By automating tasks and providing real-time communication tools, Wavework enables organizations to focus on building and maintaining strong relationships with their high-value clients.

Strategic Opportunities and Future Directions

Under the umbrella of PlatForce, Wavework is positioned to expand its reach and enhance its offerings. The integration of compliance and engagement solutions with experience management capabilities presents opportunities for growth and innovation in the premium hospitality sector. Future directions may include expanding into new markets, developing additional features to meet evolving client needs, and leveraging data analytics to drive further improvements in customer engagement and retention.