Breaking: Eventtech company raises $35 million.
Sources confirmed it.
A Canadian company closed a series B funding of $35M.
If confirmed, this brings up the total raised to $65 million.
While we are distant from the rounds raised by virtual event platforms during the pandemic, this is a remarkable story for the new event industry.
/ A story that reinforces how we moved from virtual to physical.
/ A story that confirms the health and strength of our industry.
The company, sources confirm, is Planned.
————————————————————
What does Planned do?
It is a sourcing platform that looks after tricky aspects of the event planning process.
Travel
Venues
F&B
Room Block
————————————————————
/ Why does it matter?
These are significant issues for corporate planners, HR managers, and PAs who plan dozens, if not hundreds, of small—to medium-sized meetings.
This lower-mid market is left to itself as it is not big enough to be serviced by large-scale suppliers and not small enough to skip items like travel and room blocks.
————————————————————
/ It failed before
Many approached this audience with marketplace solutions. In several cases, they failed because of low supplier adoption or perceived platform fatigue by already busy planners.
Planned (and similar platforms) offers the ability to be supported by sourcing specialists, effectively templatizing use cases. This approach reduces the perceived complexity of events.
————————————————————
/ Why this is news
It is a noteworthy raise at a critical time for technology companies when raising capital is significantly more problematic.
I am very excited about the future of the industry.
Are you?
