Bizzabo, the New York and Tel Aviv-based events management platform, has raised $27 million in Series D funding. Leading the round is Viola Growth, along with new investor Next47.
We’re also told that previous backers, including Pilot Growth, followed on. The new funding brings the total raised by the company to $56 million.
Originally launched in 2012 as a networking app for event attendees, Bizzabo now claims to be the leading end-to-end “Event Success Platform”. As it exists today, one way to describe the cloud-based software is akin to ‘Salesforce for events’: helping enterprises create, manage and execute every aspect of a live event.
As TechCrunch’s Catherine Shu previously wrote, the SaaS automates time-consuming event tasks related to email, social media and web marketing, and contact management.
There’s an increasing data play, too, with the ability to crunch and analyse event data to help event organisers garner more registrations, increase revenue, and improve the overall attendee experience.
“Our vision is to provide a data-driven and personalized journey for attendees,” Bizzabo CEO and co-founder Eran Ben-Shushan tells me. “An 800-person conference should feel like 800 unique in-person event experiences. By leveraging hundreds of data points throughout the attendee journey, our customers can deliver extremely personalised promotion campaigns, custom-tailor the event agenda and proactively cater to each attendee action”.
As an example, Ben-Shushan says an attendee at a user conference can receive recommended sessions, business introductions, and even sponsored offers based on interest and intent expressed before, during, and after the event.
To that end, Bizzabo says its Series D will be used to expand the platform’s capabilities and continue to help enterprise and mid-market organizations “build data-driven, personalized and engaging professional event experiences”. The will include growing its R&D and own marketing teams, adding to the more than 120 current employees in its New York and Tel-Aviv offices.
Ben-Shushan reckons that on average 25 percent of a B2B company’s marketing budget is spent on live events. This has resulted in the number of professional events increasingly exponentially each year, such as conferences and seminars, trade shows or other experiences.
However, it remains a challenge to create, manage, market and measure the success of events while maximizing ROI — which is where Ben-Shushan says Bizzabo comes in.
Bizzabo’s better known customers include Inbound, SaaStr, Forbes, Dow Jones, Gainsight, and Drift. Meanwhile, the event management space as a whole is said to be worth $500 billion.