Eventcombo – the Event-as-a-Service tech platform that is disrupting the virtual-tech sector – has raised $1million in its latest Seed+ round; with participation from Kim Goh of Hudson Ventures, Wayne Tamarelli, Sheets Smith Wealth Management, Michael Warsinske, Amjad Shacker, Sridhar Vemuri and Om Investment Partners; with angel investors from Amazon, Microsoft and Oracle.
Ever since it hit the market in 2017, Eventcombo has been on a mission to disrupt the industry. The unique Event-as-a-Service (EaaS) platform has gone on to achieve unprecedented success during some of the most challenging times this industry has ever witnessed.
Saroosh Gull, CEO, believes Eventcombo is offering a complete and total package to the market, which has historically not experienced innovation at the same pace as other industries. According to Saroosh, the Eventcombo experience cannot be found anywhere else. He says: “I am proud of what we have been able to accomplish: building a strong team, creating a product that out-executes billion dollar companies, and a strong product-market-fit with loving customers.”
Eventcombo is a one-of-a-kind, robust and comprehensive event management tool that brings together cutting-edge event technology to get the most out of in-person, virtual and hybrid events offering its customers an unrivaled events management system, before, during and most importantly after an event.
The brand plans to utilize the funds to increase their headcount, which is currently around 50 global employees. The Eventcombo platform, product and operations are set for scale and the brand plans to use these proceeds to support marketing and sales opportunities.
Saroosh continues: “Our success to date has been a result of organic growth. We have built a fully fledged virtual streaming capability that rivals Zoom and we are truly a hybrid platform with more than 150 features for a single dashboard end-to-end event management experience.
“Our operation is proven and primed for growth, as demonstrated by our performance during the pandemic where we produced a revenue multiple of 50 times against our monthly OpEx.”
Online event platforms have taken the events industry by storm and there’s more of them each year – some of them attracting huge investments.
Saroosh says: “We have always focused on innovation and adding value to industry experience. It is interesting, while other platforms have raised hundreds of millions of dollars, their product offering and market capture don’t correlate as outside of Cvent or Eventbrite, no single platform has more than 1% market share. With our turnkey solution for events, an in-house Community platform and our very own In-person, Virtual and Hybrid solution, we bring a lot of product to the table.”
While having a full fledged event management platform with a turnkey solution, Eventcombo is heading directly into the Metaverse with what it calls the Eventiverse experience, where organizations can create their venues and configure events in the metaverse, while integrating a NFT marketplace to correlate digital and IRL experiences – a first of its kind endeavor for the event world. With its funding, Eventcombo plans to position for a Series A and expand its existing presence in the US while strategically mobilizing into generally untapped, frontier markets.