Event success platform raises funds to expand product offering, bring full Cloud Platform to event industry and become THE salesforce for events
Bizzabo, the leading event success platform, has announced the closing of $6.5 million series A Funding. The round was led by strategic investors, Zvi Limon, the co-founder of the Israeli Venture Capital firm Magma Ventures, serial entrepreneur Avigdor Willenz, founder of Annapurna Labs and Galileo Technology, and Danny Tocatly, a leading Israeli Angel investor. Existing investors, including LionBird, Kaedan Capital, Prof. Yair Tauman, Gigi Levy, Eyal Ofer, and Eli Alroy also participated in the round. The investment brings Bizzabo’s total funding to $14.5 million, signifying a key industry endorsement of Bizzabo’s unique Events Cloud technology. The new capital will be invested into building new innovative capabilities and into supporting the company’s rapidly growing customer base.
Bizzabo is an award-winning event success platform and the world’s fastest growing event technology company, providing marketers with a modern suite of tools to create impactful and rewarding professional events. Bizzabo offers corporations, publishers, agencies and 3rd party event planners the tools to streamline and optimise their events. Customers like GE, Virgin, USAA, BDO, The Drum and the Lean Startup use Bizzabo to consolidate their ‘event stack’ and benefit from the platform’s insights to manage, measure and grow their events participation, engagement and experience.
“Events are a strategic channel for our customers to drive business objectives, but no modern platform is bringing together the variety of tools needed to collect and leverage the necessary data to make events more valuable to driving business goals,” said Eran Ben-Shushan, CEO and Co-Founder. “Bizzabo is the only platform focusing on event success, and not just event management, by building a product that helps organisers boost registrations, productivity, engagement and other key metrics. This round of funding will allow us to scale our team further and drive the innovation this industry is craving. As more engagement migrates online, in-person events are becoming more important than ever. Using our platform, sales, marketing and HR teams are able to take the power of events to new heights.”
In March of 2015, Bizzabo identified that the majority of organisations still depend on manual processes to run and manage their events. Legacy software players in the space own only a fraction of the Event Management Software market, which is estimated by Forrester as a $28 billion opportunity. Following Bizzabo’s pivot from an event app provider to an end-to-end B2B SaaS platform, the company has been growing its revenue at 16% growth month over month and is generating millions of dollars in revenue. Bizzabo’s team grew by 200% across its New York and Tel Aviv offices. The events industry recognised Bizzabo’s achievements by choosing them as “The People’s Choice Award for the Favourite Event Technology Solution,” at The Event Technology Awards in London for two consecutive years.
“We believe in investing in companies with a big vision and a proven execution track record. Bizzabo is transforming the way companies utilise events as a core component of their business,” said Zvi Limon. “Bizzabo is bringing intuitive design and modern analytics reporting that exists in industries such as AdTech and MarTech to the events industry. By creating a platform that emphasises event success, the company is enabling businesses of all sizes to drive real and lasting ROI from their event budget. Bizzabo is redefining the event space by applying the same data-driven, ROI-based approaches today’s giant SaaS solutions used to revolutionise the way companies run their sales and marketing initiatives.”