Bizzabo, a technology platform provider for event organizers, has raised $15 million in a round of funding led by Pilot Growth Equity, with participation from European investment fund Maor, among other existing investors.
Founded in 2011, Bizzabo offers a range of tools through its cloud-based events platform, covering registration and ticketing, marketing, website building, agenda management, networking, post-event surveys, and more.
The company had previously raised around $14.5 million, and with another $15 million in the pot, it plans to support its “rapidly growing customer base” and accelerate its product development.
“Over the past decade, we’ve seen the sales cloud develop, then the marketing cloud, and now it is time for the events cloud to rise,” said Bizzabo cofounder and CEO Eran Ben-Shushan. “Bizzabo is uniquely positioned for growth at this long-awaited crossroads of a multi-billion-dollar events software industry and a technological revolution. We took some big bets in the past that paid off, thanks to our team’s incredible passion and belief in the importance of events to our world. With this additional capital, we will continue building the best event success platform in the market.”
Bizzabo counts hubs in both Tel Aviv and New York, and Ben-Shushan said the company plans to double the size of its teams in both locations over the next year.
As a private company, Bizzabo has not released its financials, but it claims that its annual recurring revenue grew by more than 200 percent over the past year and puts its annual revenue somewhat vaguely “in the millions.”
To facilitate events, Bizzabo has partnered with a number of big name enterprises around the world, including HubSpot, GitHub, EA Sports, and WeWork. Indeed, if there was ever any doubt about the value of real-world, in-person events, WeWork recently acquired Meetup to help facilitate more face-to-face gatherings.
Events are still big business, and Bizzabo promises a full end-to-end product — from signups through to surveys and key data insights.
“We believe that events, when approached the right way, are the most effective channel to build strong relationships and help organizations grow,” added Ben-Shushan.