Event marketing software Airmeet has announced it has raised $35 million in Series B funding, an investment that will contribute to the platform’s product innovations and overall growth.
The pool of investors featured existing investors Sequoia Capital India and Accel India, as well as new investors Prosus Ventures, Sistema Asia Fund, RingCentral Ventures, KDDI Open Innovation Fund, DG Daiwa Ventures and Nexxus Global.
“Customer engagement has been fast evolving into a space that needs to go beyond the traditional channels. Brands have to start conversations and engage with customers without losing their human touch in the virtual space. Our mission has always been to focus on engagement and assist businesses with scaling their customer engagement through multiple interactive event formats,” said Lalit Mangal, co-founder of Airmeet.
Airmeet’s product is designed to be an all-in-one, customizable events management platform. Its audience engagement suite helps business organizations directly connect with target audiences to build meaningful relationships and boost ROI.
Since the company received its Series A investment in 2020, the company has scaled its recurring revenue 24x and is growing MoM at a rate of 30 percent. The Delaware-based event management service now works with over 6,500 customers located in 139 different countries to host 118,000 events (and counting) since its launch in 2019.
Worldwide, the platform has helped over 120,000 event organizers stream 150 million minutes of video content for virtual events, hybrid events, webinars, business summits, and other video meetups. The company currently supports industry-leading organizations such as Walmart, Volvo, Philips, Florida International University, and Accenture.
“The global market for virtual events has grown to become a $110B opportunity aided by the new realities of work, networking, and marketing. Airmeet with their acclaimed superior product delivering a near offline-equivalent conference experience is placed well to tap into this major paradigm shift in the global conferencing market,” said Sumit Jain, Senior Partner at Sistema Asia Fund.
“The pandemic has brought in a marked shift in the way we work, the way we interact with customers, employees, and other stakeholders. This shift has further accelerated the adoption of agile and virtual solutions to cater to business needs. We are excited to partner with Airmeet as they support the transformation and evolution of the enterprise SAAS marketing space and deliver an outstanding audience experience through a uniquely customer-centric approach,” said Ashutosh Sharma, Head of Investments, India, Prosus Ventures.