While major event tech companies Aventri and MeetingPlay made headlines last week when they announced that they have merged, smaller players are still hoping to capture their share of the event tech market. Event platform Zuddl, which was founded in the early pandemic days in May of 2020 and is geared towards enterprise clients, has announced that it has raised a $13.35 million Series A funding round.
This brings its total funding up to $15.4 million following an initial seed round in October 2020 and indicates, once again, that there is still a lot of funding to go around in the event tech space, even for newer, less-established solutions.
The round was led by Alpha Wave Incubation with participation Qualcomm Ventures, GrowX Ventures, Waveform Ventures. Since its inception, Zuddl has grown its team from seven to over 75 people around the world.
“With this new funding, we’re excited to continue to empower organizations to build remarkable live events,” said Bharath Varma, co-founder and CEO of Zuddl, in a blog post announcing the funding. “Our vision is to be the one platform for all enterprise events, whether that’s internal or external, hybrid or virtual. This new round of funding will enable us to continue building on the foundation we have built so far and help us achieve our next few goals.”
He notes that the goals include doubling down on product, which includes bolstering data analytics and hybrid features; scaling the team globally, which will continue this month with the opening of their EMEA headquarters in Abu Dhabi; and accelerating growth, according to their goal of wanting “every large organization and every large event to be powered by Zuddl.”
While this is clearly unrealistic given the oversaturated market of event platforms, especially as organizations begin to foster more long-term relationships with their technology providers, it will be interesting to keep an eye on this company as it continues to make a name for itself among its competition.