The announcement of Bizzabo raises $138M of investment made its round to the public on the second day of December 2020. The millions dollar worth resource is raised through the Series E funding, which makes the total of capital this virtual conference provider has risen through its financing rounds reached $194 million.
Bizzabo’s Series E Round of Funding Details
The NYC-headquartered Bizzabo raises $138M of funding through Series E, that officially announced in December 2, 2020. The round of funding this time was headed by Insight Partners and joined by several names of prior investors such as Next47, OurCrowd, and Viola Growth. The latter has led Series D round funding in April 2019 that raised $27 million. Alongside with the event, it was also revealed that the Insight Partners’ managing director, Matt Gatto, is going to take the position of member in the board of directors in this company.
The current valuation of this conference platform provider after the Series E funding wasn’t disclosed, but its Co-founder and CEO, Ben-Shushan revealed that the company has grown as much as 400%. In total, the company has successfully gained a total investment of $195.
The revenue of this online conference platform company has grown 100%, along with 65% growth of number of organized events. On the other hand, the number of registered attendees of events has grown 500% and general usage to 150%. This is in line with the growing industry of virtual event companies, following the Covid-19 outbreak.
Furthermore, it is stated that the raised funds are going to be used to develop integrated technology of in-person and virtual events for the interests of event organizers and attendees. It will also be used to extend the company’s go-to-market operations, as well as advancing the product, engineering, and experience teams during the early half of 2021. Throughout the year, the company also said to plan to hire more than 100 new employees.
Bizzabo is an event success company that was established in Israel in 2011, but is now based in New York. Even though it now has advanced to the online event platform provider, it used to start by focusing on physical event tech platform, by providing wide range of tools including marketing, ticketing, registration, networking, website building, after-event surveys, and many more. Nowadays, it offers empowerment for organizers to handle, grow, and measure their professional events throughout the world in various event formats such as in-person, virtual, and hybrid event.
This company has built impressive client portfolio in the industry of virtual meeting platforms. It has backed events for Fortune 100 listed market-leading companies in the field of technology, media, education, and eCommerce. The strong track record of its high-profile clients is including Drive, Gainsight, Inbound, Rakuten, and Uber, as it claimed.
The virtual event app developer is predicted to sit at solid position to embrace the capitalization of hybrid events. Since the pandemic started at 2019, the world has slowly come back to normal state for the upcoming time, and this company has adapted to transform to meet with the requirements of social distancing, by partnering with Kaltura to launch a virtual events platform.