Bizzabo, which provides a platform to plan and run both virtual and in-person conferences, from its earliest stages of conception and handling sponsorships, through to managing interactions between attendees, and provisioning the conference itself, has closed a round of $138 million funding.
It stated it will use to drive the growth of its business, said CEO Eran Ben-Shushan (who co-founded the company with Alon Alroy and Boaz Katz) in an interview, after seeing that business boom this year, running conferences for large businesses and event planners.
This Series E is being led by Insight Partners, the VC known for its big growth investments; previous backers Viola Growth, Next47, and OurCrowd also participated.
Revenue has grown 100%, with the number of events organized through Bizzabo up 65%, he said, with the number of attendees registering for events with Bizzabo up 500% and overall usage is up 150x.
“With a vaccine likely and more hybrid events in the future, we anticipate even greater growth,” he added. “Bizzabo has been the category leader, experiencing hyper-growth both pre-pandemic and during the virtual transition, we are excited to continue to lead the market forward by doubling down on product, technology, and user experience, to help organizations unlock the power of hybrid experiences.”
He said that will include the building of more tech to integrate virtual and in-person experiences, and tripling its engineering, product and experience teams, adding two new offices in Europe for the Tel Aviv-New York startup.
Bizzabo started life in 2011 positioning itself as the “Salesforce for events.” Leaning heavily on cloud architecture and providing integrations into the many productivity and communication tools that an event organizer might use, the idea was to provide a platform to knit all that together and give organizers a way of using apps and online services to extend touch points between and with attendees. That could take the form of registration software to sign people up and collect payments for would-be attendees; chatrooms for people at specific sessions, better ways for exhibitors and sponsors to connect with visitors, and for those visitors to connect with each other during and after the event.