Business

Tech Cocktail nabs $2.5M to become the ‘leaders’ of VegasTech

If you haven’t heard of Tech Cocktail, you probably haven’t partied much with the startup community.

Tech Cocktail‘s goal is to support emerging tech hubs through events and provide relevant news and information for entrepreneurs on its website. And today, the company raised its first $2.5 million funding round from Zappos CEO Tony Hsieh.

As part of the funding, the team opened a new office in Las Vegas, which will serve as its headquarters. On the company blog, CEO Frank Gruber said the goal is to become the “leaders” of the local, burgeoning tech community.

Entrepreneurs are relocating to Vegas in large part due to the efforts of Hsieh’s “Downtown Project.” Hsieh and his team are on a mission to revitalize the downtown economy through a $500 million fund. Investments are already being made in urban planning and development, schools and hospitals, small businesses, and technology startups.

Last week, I travelled to Vegas with a group of entrepreneurs and investors to find out more about the Downtown Project. Most of the activities, including speaker sessions and networking events, were organized by Tech Cocktail.

“We’ve known Tony Hsieh for over five years, dating back to a party that we threw together for CES 2009,” Gruber said on the Tech Cocktail blog. “It’s great to have a strategic partner who really understands entrepreneurship and the importance of celebrating and building community around it.”

It should come as no surprise that the founders would raise a sizable round of funding (especially for a media company) from the downtown project. Gruber said the team will focus on expanding throughout the United States, and building the brand. He claims that 30,000 people attend one of Tech Cocktail’s events last year alone.

Tech Cocktail will also release a “national platform” for entrepreneurs, but hasn’t disclosed much at this point.


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