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Virtual Events Startups Attract Investors

Virtual Events Startups Attract Investors
February 10, 2021

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The year 2020 became the year where joining a room full of people in a tightly-packed exhibition hall had us cringing in fear. It was also the same year where attending events could now be done virtually, in pajamas, straight out of bed. The rapid shift towards virtual events that shaped 2020 is helping spur massive growth in 2021, and startups that have tapped into this growth are attracting a lot of investor attention. 

  • Started in 2012, Touchcast raised $55M this month in its first round of equity, led by Accenture. Its virtual events platform combines the power of AI and virtual reality into its events experience.
  • High Fidelity is an online audio space provider that provides virtual social spaces mimicking a live room with different clusters of people. The San Francisco-based startup was founded in 2013 and has raised 5 rounds of funding so far. 
  • WaveVR offers a virtual concert platform and has already produced concerts for John Legend and the latest Super Bowl performer, The Weeknd. The Los Angeles-based company has most recently captured the interests of Tencent, which has taken a minority stake in the company and will bring the service to its Chinese platforms through Tencent Music Entertainment Group.
  • Bizzabo is a fast-growing meeting and event planning platform that quickly switched during COVID from in-person conferences to virtual events. With its quick shift, it secured a whopping $138MM Round E of funding in December led by Insight Venture Partners.
  • Run the World hosts all types of digital events, from cocktail parties to global conferences. The young Series A startup was founded in 2019 but has already attracted funding from many VCs, including Andreessen Horowitz. 
  • InEvent is the latest of the virtual conference platforms to raise seed capital, most recently $2MM led by Storm Ventures. The New York-based company boasts a hybrid model of virtual events as well as in-person event marketing solutions. 
  • Hopin can surely be named the fastest-growing virtual events company, founded in 2019 but already reaching a valuation of $2BN+. The UK-based company only just raised its seed funding in February 2020, but then went on to raise an A Round of $40MM in June 2020 and then a whopping $125MM Series B in November 2020.
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Since last week, PrivCo has added:
204,895 Companies | 176 Funding Activities | 69 M&A Deals

Funding & Deal Highlights:

Reddit raises $250MM led by Vy Capital
Community Software & Internet Services • Round E • San Francisco, CA

Alma Mental Health raises $28MM led by Insight Partners
Telehealth Software & Internet Services • Round B • New York, NY

Rocket.Chat Holdings raises $19MM led by Valor Capital Group, Greycroft Partners, Monashees Capital & New Enterprise Associates
Messaging Software & Internet Services • Round A • Wilmington, DE

AnthillAI raises $1.24MM
AI Software & Internet Services • Seed • Chicago, IL

Landed raises $1.4MM led by Javelin Venture Partners
Human Resources Software & Internet Services • Seed • San Francisco, CA

Flywheel Exchange raises $15MM
Analytics Software & Internet Services • Round B • Minneapolis, MN

Balance Payments raises $5.5MM
Payments Software & Internet Services • Seed • San Francisco, CA

Rescale raises $50MM
Analytics Software & Internet Services • Round C •  San Francisco, CA

TouchCast raises $55MM led by Accenture
AI Software & Internet Services • Equity • New York, NY

Hip Mobility raises $12MM led by NFX Guild and Magenta Venture Partners
Transportation Software & Internet Services • Round A • New York, NY

Evinced raises $17MM led by Microsoft Ventures, Capital One Growth Ventures & Benhamou Global Ventures
Computer Vision Software & Internet Services • Equity • Los Altos, CA

Capital Rx raises $50MM
Health Care Services • Round A • New York, NY

Mill Point Capital acquires Prime Pensions
Professional Services • Acquisition • Florham Park, NJ

Ellio Associates and Veritas Capital acquires Cubic Corporation for $2.2BN
Industrial Products • Acquisition • San Diego, CA

Banzai International acquires Demio
Digital Marketing Software & Internet Services • Acquisition • Tampa, FL

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