In early 2021, you may have heard about tech startup get lots of funding, just like TouchCast raises $55M. While the number is amazing, you may begin to wonder, what’s so special about the company that makes it worth to invest. Even some of you may wonder what on earth TouchCast is. This article will help you to understand better about the company as well as the reason why the company is capable in getting the funding.
Many of us today have known online event platform like Zoom or Google Meet. Other names of virtual meeting platforms that resemble the service are such as Hubilo and Webex. Well, TouchCast is other software which focuses in creating a platform to help people conduct virtual events.
The company was established in 2013 with Erick Schonfeld as one co-founder that worked together with the current CEO Edo Segal. That time, the company had already an idea to create supercharge online video. This concept is basically aiming to make creators feel at ease when it comes to make their videos more interactive.
Long story short, the excellent idea seemed to take the wrong timing that time. Hence it makes the company became deemed as ‘dead pooled’ to some extent.
However, the company keeps striving and the result is visible after they launched an initial virtual conference app, which resembles their nowadays’ app. The first app has less features than what you can see on the market today, but it successfully won people’s interest and that’s what the company seriously retooling their virtual event app. The retooling process takes around six months, and they see the goodness of perseverance ever since.
Nowadays, the company’s valuation is estimated to be a 9-digit US Dollars. The CEO said so as well but refusing to disclose it after TouchCast raises $55M. However, Grand View Research estimated that this company with its conference platform will secure a strong $400 billion by 2027.
TouchCast Key Features
Wondering what key features does this app will offer? This question is posed by a lot of people—given this is apparently what investors see when they decide to invest in companies, including virtual event companies.
In case of TouchCast, here is the list of their key features:
- TouchCast is webinar software that can be accessed both in PC’s web app and phones.
- The app enables you to do video conference by using your preferred virtual “venues”. This will surely make the participants feel like they are attending a real event.
- The app enables you to use their tools for answering questions or to have a convo chat with other participants.
- As the event progresses, the app enables you to obtain the key points’ summaries and transcriptions as well.
With all features said, TouchCast—which is also popularly known as TouchCast Studio, aims to reach more people with different needs of online streaming. Hence, they hoped not only for businesses to benefit from their software, but also teachers, musicians, etc.
To sums up, TouchCast is one online conference platform with various key features to offer. These features are indeed a great development that it could get funding from big companies, and made them as a 9-figure company in terms of valuation only in relatively short time.