AP NEWS
ADVERTISEMENT
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Preciate Launches Preciate Social, the first virtual socializing platform for businesses and teams

September 30, 2020 GMT

DALLAS, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Preciate, a platform designed to enable businesses and teams to foster and grow authentic relationships, announced today the launch of Preciate Social, the first virtual socializing platform for businesses and teams. Designed for the purpose of socializing, team building and fun, Preciate Social was built from the ground up to provide a fully immersive experience that replicates the atmosphere of real-life business socials and mixers. Using Preciate Social, companies and teams can now create premium, specially-curated virtual business socials that build relationships and engagement no matter where stakeholders are located. Previously in beta, Preciate has nearly 10,000 users from 1,700 companies such as AAA, SSI, Brock Solutions, National Science Foundation/Emory, and Dyno Nobel.

ADVERTISEMENT

Every year, companies spend billions of dollars fostering relationships with employees, partners, stakeholders and clients. In 2019 alone, U.S. companies spent $139.3 billion on meetings, events, and incentive travel, mostly for in-person employee engagement and relationship building. With travel and other entertainment options not possible in the COVID-19 era due to safety concerns and the struggling economy, companies need new, inexpensive ways to build engagement with their stakeholders.

“With the struggling economy and remote work becoming the new normal, companies and organizations need a tool that provides the value of in-person relationship building remotely,” said Ed Stevens, the CEO and co-founder of Preciate. “Preciate Social is that tool. To create it, we thought critically about how to marry what research tells us about building and maintaining relationships and how to replicate business socials virtually. As a result, we have pioneered social presence technology, and are helping companies and teams come together.”

Preciate Social provides an entirely new way for large groups (up to 50) to socialize online. Built from the ground up to provide a fully immersive experience that replicates the atmosphere of real-life business socials and mixers, its patent pending social presence technology makes you feel like you’re moving through 3D space instead of staring at a 2D screen, enabling the expression of social signals and cues by allowing users to move away or toward people to start a conversation, hear the background noise of other people chatting and give toasts.

ADVERTISEMENT

Preciate Social provides a unique and memorable communal experience. Within the same shared, virtual venue, everyone experiences the three Ms of great socializing: music, mingling and making conversation. Companies can even hire live performers like Ed Sheeran to headline their social, bringing the thrill of live shows and events to attendees around the world.

“Physical distancing has been tough for the scientific community, especially for the “community” part. We traditionally hold our biggest conferences in the Spring and Summer where scientists from around the world get to connect with each other during the breakout sessions. Even when we tried virtual networking, it feels very unnatural,” said Rio Febrian, Lead Researcher at the National Science Foundation/Emory. “Preciate Social has been a great tool to bring my team and my network together again. The movement makes it feel like you’re in the same room—it’s refreshing to be able to easily break away and have different conversations throughout the event. I can’t wait to host more virtual events with Preciate Social in the future!”

With Preciate Social, companies and teams can:

  • Create a curated, custom and shared experience: Preciate Social allows you to create a fully customized experience. For example, if you’re hosting an event, you can create a custom background theme and completely personalize the music just as you would at a live event. Preciate offers three music options: 1) free background music by genres such as pop, jazz, country, 2) fully licensed premium music channels including 80s, pop, and indie hits (paid) or 3) live performances.
  • Build stronger workplace relationships with ease: By making it easier to connect with people regardless of physical distance, Preciate Social helps you grow relationships at work and beyond, fueling human happiness. Stronger workplace relationships have been shown to increase employee engagement, improve performance, boost intrinsic motivation, improve company retention and more.
  • Easily recognize employees and give kudos: Preciate Social provides recognition tools that allow users to acknowledge and publicly celebrate employees’ great work, thereby facilitating a vital step towards building deeper connections.
  • Foster deep connection and conversation: Preciate Social’s intelligent room sizing ensures your social maintains a sense of closeness and energy without feeling crowded. At the same time, Preciate’s Convos feature provides built in ice breakers to help get the conversation started. These consist of question prompts in three categories: 1) Just for Fun 2) Discovery and 3) In the Workplace.
  • Use built-in social signals and cues: Instead of everyone listening to one person talk, Preciate Social allows multiple conversations to take place simultaneously, just like they would at a business party or social in real life. Preciate Social allows you to freely navigate around large groups of people and find the specific people you’re looking to connect with, just like you would at an in-person event. Its social presence technology makes you feel like you’re moving through 3D space instead of staring at a 2D screen. As you move closer or further away from someone, the audio changes volume. You can hear the crowd react to a toast or performance, and a colored ring shows who’s talking. 
  • Socialize freely with completely private conversations: To ensure a completely safe and private place for businesses and teams to socialize, Preciate Social does not include any recording options and does not share private information with other organizations.

Preciate’s basic account is free. For companies who want additional features and customization, Preciate offers two additional solutions at $1 and $1.50 per month per user. To learn more or sign up for Preciate Social, visit https://preciate.com.

About Preciate
Preciate is a platform designed to help businesses and teams foster and grow authentic relationships through peer recognition technology and virtual business socials. Its newest offering -- Preciate Social -- is the first virtual socializing platform for businesses and teams and was built from the ground up to provide a fully immersive experience that replicates the atmosphere of real-life business socials and mixers. Its patent pending social presence technology enables the expression of social signals and cues. Headquartered in Dallas, Texas, Preciate was founded in 2017 by serial entrepreneur and technology executive Ed Stevens, who successfully sold his last company to Vista Equity, the largest acquirer of enterprise software companies in the world. To learn more, visit: https://preciate.com.

Contacts
Wynne Ahern, CommStrat for Preciate
T. 510.658.8870
preciate@commstrat.com