Vendelux, the premier Event Intelligence Platform that enables marketers to maximize the impact from the event marking channel, announced the closing of $2.4 million in seed capital financing. The capital will support development of the platform’s event intelligence product suite—including technology for users to find events and conferences with their key customers, competitors, and partners—and expansion of the team.
The round was led by Tenacity Venture Capital, with participation from Earl Grey Capital, Pareto Holdings, and a number of SaaS founders, including Shafqat Islam and Avi Muchnick. The equity raise coincides with the company’s official launch from stealth amid promising gains in revenue. The most recent quarter showed double digit month–over–month growth.
“Our mission is to empower event marketers to lead and thrive, and we are thrilled to be partnering with Tenacity Venture Capital to make this mission a reality,” co–founder and CEO Alex Reynolds said. “This round of funding will help us continue to grow and expand our platform, delivering even greater value to our global customer base.”
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Reynolds and co–founder and COO Stefan Deeran saw the need first-hand for event intelligence while building a global, eight-figure ARR business unit within Shutterstock. They knew from experience that events were the best way to make connections with prospects and strengthen relationships with clients. But too often, companies seemed to make decisions based on instinct. Event marketers lacked a tool and resource to evaluate events strategically, based on metrics they cared about. Vendelux was founded to give decision makers data and insight to boost ROI and achieve unprecedented channel impact.
Companies like Gainsight, Gorgias, and Spekit are using Vendelux to discover and evaluate the most relevant in-person, hybrid and virtual events. The platform is powered by Vendelux’s proprietary database of over 30,000 global events, with up-to-date information on sponsorship packages, speakers, and even attendees.
“There is unprecedented demand to visit customers and colleagues again,” said Stefan Deeran, co–founder and COO. “As companies re-imagine the future of work, marketers rely on Vendelux to build the perfect event marketing strategy.”
In the US alone, the corporate events industry is projected to grow at a compound annual growth rate of 17.3%, and hit $510 billion by 2030. In the exciting years to come, Vendelux will equip event marketers with the data and intelligence they need to make B2B events the biggest and best revenue channel.