The news about MeetingPlay raises $75 million of funding from Sunstone Partners was reported on June 17, 2021. Read further details about how the leading company in technology of hybrid event gained investment from the growth equity firm in the following.
About MeetingPlay and Sunstone Partners
MeetingPlay is a renowned technology company that concentrates on delivering innovative event solutions – be it in-person, hybrid or virtual events. It was established by co-CEOs Lisa Vann and Joe Schwinger in 2012.
This online event platform provides a full range of services for various types of meetings, events, and conferences by committing to offer rich experiences for the attendees. It recognizes that successfully held events and meetings are made over significantly formed connections during the event. The company carries the highest value of running offline and online conference platform, and everything in-between, by connecting and engaging to the meeting to create a distinctive and one-of-a-kind event, which accordingly raise the company’s client brands.
The conference platform provider has obtained high-profile clients, including several businesses listed on Fortune 500. It becomes the choice of virtual conference platform for a lot of significant names such as Autodesk, Databricks, and Marriott. With more huge investments to come, including Sunstone Partners’ one in current time and ones in upcoming days, it expects the client list to grow.
Sunstone Partners, the responsible investor for MeetingPlay raises $75 million funding, is a self-claimed private equity (PE) firm that puts minority and majority investments in tech-enabled services companies. This firm was established in 2015, and has committed $800 million worth of capital to its earliest two funds. It was recently acknowledged and listed as one of the founder-friendly 50 best private equity firms for entrepreneurs by Inc. in the year of 2020.
About the Investment and What is Expected from It – MeetingPlay Receives $75 Million Investment From Sunstone Partners
Currently, due to the breaking pandemic, there is a rapidly growing trend of event tech consolidation that began in 2019. Numerous growing virtual event companies receiving injections with venture capital are competing to provide back-to-back, all-in-one solutions for event organizers who want to streamline their in-person, virtual, or hybrid meetings.
The news of hybrid event technology company MeetingPlay raises $75 million was announced along with what the company is planning to do with the funds. Reportedly, it allows the company to perform assertive strategy of growth by powering innovative products development, boosting its market strategy, and extending strategic plan regarding product deliverance to maintain offering excellent customer experiences.
The virtual event app company’s co-CEO, Joe Schwinger, stated this investment will help them to grow their offerings and allow the clients to present even more transformative, on-brand, and exciting events. He said both the company and Sunstone have common vision, which emphasizes their desire to continue providing outstanding customer service and maintain their distinctive culture.
Meanwhile, Michael Biggee, the managing director and co-founder of Sunstone Partners stated their firm’s excitement to extend their extensive portfolio of rapidly-growing tech companies, including virtual meeting platforms. He also shared their enthusiasm over this partnership on the thrilling future.