Israeli startup Bizzabo, which offers a networking platform for event organizers and attendees, has announced that it has brought in $2.5 million in funding.
The new round of funding was led by previous investors Kaedan Capital, AfterDox, angel investor Gigi Levy, and new investors OurCrowd and Massa Group. It had previously raised $1.5 million two years ago for the free app which is available on both Android and ios platforms.
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Founded in 2011, Bizzabo integrates social media to build highly-interactive event communities, helping organizers, sponsors and exhibitors to engage directly with guests and seek out meaningful new business opportunities. Organizers use Bizzabo to mobilize their event information, increase discoverability and word of mouth. The platform has been incorporated into thousands of events worldwide.
The company states that its product delivers real time event info and networking opportunities and helps to make the most out of every event.
Revenues will come from fees charged to event organizers for using the service, while event attendees will be able to download the app for free.
The new investment comes as Bizzabo has reached the milestone of 4, 000 professional events coordinated by it. Bizzabo says that it will use the funding to add new features, including a new event management platform that it plans to unveil later this year.
The company’s co-founder and CEO Eran Ben-Shushan said in a press release, “Our investors have played a critical role in helping us build Bizzabo into a recognized market leader and we look forward to continuing our relationship with existing investors and bringing in critical insights from our new partners.
“Having now worked with thousands of conferences around the world, from leading corporate events, to brand-name tech conferences and small meetups, we have gained an even deeper understanding as to what the meetings industry needs to become more effective and impactful. This funding will allow us to create a comprehensive and beautiful solution that addresses the key needs of the event industry. The ‘New Bizzabo, ’ which will be launched later this year, is aiming to become the go-to technology for event organizers to manage, market, outsell, and maximize their events.”
“Bizzabo’s rapid growth is a proof point for the quality of the product and strength of the company’s leadership and vision, ” said Jon Medved, Founder & CEO of OurCrowd. “We look forward to working closely with Bizzabo as it disrupts the event industry.