These days, venture capital seems to flow toward startups using a software-as-a-service (SaaS) delivery model in virtually all industries. The hospitality industry is no different.
One young SaaS company servicing that industry, Social Tables, has just found itself on the business end of a new $8 million funding round.
Bessemer Venture Partners led the round, with Thayer Ventures, Militello Capital, 500 Startups, Middleland Capital, and Fortify Ventures all throwing in. This funding will bring the total amount Social Tables has raised to $9.6 million.
Social Tables has developed at cloud platform that provides a series of event planning and management tools to people in the hospitality industry, including things like online sales and marketing solutions, 2D and 3D room diagramming, business intelligence for hotels, and event attendee management. The tools can be accessed on the desktop or through a mobile app.
Social Tables says its customers range from hotel chains like Hyatt, to academic special events teams from the Harvard Business School, to corporate meeting teams from companies like Genentech.
The company says it’ll use the money to build out its product and continue to grow its existing base of 2,500 customers.
“This momentum attracted the leading venture capital firm in SaaS software, Bessemer Venture Partners,” Social Tables Founder and CEO Dan Berger said in a statement.
“We are excited to partner with Alex Ferrara and the Bessemer team to deliver on our mission to inspire face-to-face experiences by empowering those who plan and attend them,” he said.