Ticket price forecasters SeatGeek has raised $1 million in new capital funding, according to techology trackers TechCrunch. The company intends to use the money...

Ticket price forecasters SeatGeek has raised $1 million in new capital funding, according to techology trackers TechCrunch. The company intends to use the money to hire additional software engineers and business developers. Total investment in the company has reached $1.5 million. SeatGeek uses computer algorithms to analyze millions of ticket transactions to help forecast prices on the secondary market. The data can be used by brokers or consumers to determine the best times to buy or sell tickets, and the company recently signed a partership deal with ratings company Nielsen Entertainment to use the data in the music industry, according to TechCrunch.