Israeli events management company Bizzabo has closed a $15 million equity financing round, led by Pilot Growth Equity, and with the participation of European investment fund Maor and existing investors OurCrowd, Kaedan Capital, AfterDox, Zvi Limon, Avigdor Willenz, Danny Tocatly, Gigi Levy, Eli Alroy, Barak Rabinovich, and Joey Low. Eight months ago, Bizaboo raised $6.5 million and this latest financing round brings the total amount raised to $30 million.
John DeLoche, Co-Founder and Managing Director of Pilot Growth, will join Bizzabo’s board of directors. The new capital will support the rapidly growing customer base, and will accelerate new product developments.
With offices in Tel Aviv and New York, Bizzabo was founded in 2010 by CEO Eran Ben-Shushan, Marketing and Business Development Chief Alon Alroy, and CPO Boaz Katz.
Bizzabo's events cloud empowers event marketers to manage, measure and grow professional events worldwide.
Ben-Shushan said, “Over the past decade, we’ve seen the sales cloud develop, then the marketing cloud, and now it is time for the events cloud to rise. Bizzabo is uniquely positioned for growth at this long-awaited crossroads of a multi billion-dollar events software industry and a technological revolution. We took some big bets in the past that paid off thanks to our team’s incredible passion and belief in the importance of events to our world. With this additional capital, we will continue building the best event success platform in the market. To successfully do that, we are planning to double our teams in both Tel Aviv and New York over the next year.”
John DeLoche of Pilot Growth said: “Bizzabo is the company with the best platform and leadership to become the category leader in the rapidly growing, although still fragmented, $28 billion-dollar event management software market. Organizations use and trust Bizzabo’s seamless and innovative Events Cloud to attract and engage attendees, gain data driven insights and maximize the impact of their most important events. We are honored to partner with the co-founders to help them achieve their vision.”
Ben Shushan added, “We believe that events, when approached the right way, are the most effective channel to build strong relationships and help organizations grow. At events, companies have the opportunity to inspire, to engage, and to create impactful experiences for attendees, translating into real, powerful business relationships and opportunities."
Since launching in 2012, Bizzabo has enabled thousands of events globally to run seamlessly with a growing number of enterprise organizations, including WeWork, HubSpot, GitHub, EA Sports, Bank of Ireland, and many more. Bizzabo’s annual revenue is in the millions and, in the past year alone, annual recurring revenue grew more than 200% and the team doubled in size.
Published by Globes [online], Israel business news - www.globes-online.com - on December 13, 2017
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