“We’ve been vetted and found to be uber-worthy; fund us, and you’ll be well-rewarded!” – Birgit Thümecke, Eventerprise CEO
Event industry platform Eventerprise announced this week the completion of its due diligence with the Keiretsu Forum Midwest, part of the world’s number one most active venture investor network. The three-month collaborative process, which saw substantial input from experienced entrepreneurs, investors, and legal experts, provides a platform to finalize its $1.1 million late-seed funding round with significant industry and investor validation in hand. With $275,000 already secured from new investors, the report and additional financing will now fuel the company’s growth marketing initiatives and market launch in one of the world’s largest events market – Los Angeles.
Working with Keiretsu Forum Midwest created an exciting opportunity for the Eventerprise team to be invited to pitch at a series of events across the United States; whilst work with industry and subject matter experts substantiated the company’s exciting plans for the next stage of the platform’s evolution. Stevie Award winning Co-Founder and CEO, Birgit Thümecke was quick to point out that the benefits of working with such a prestigious investor group goes far beyond the potential funding from its 2,500-strong accredited investor network. “Getting the stamp of approval from such a comprehensive and internationally recognized due diligence process was a key objective for us. Having the opportunity to have some of the best in the business take a deep dive into every corner of our operation, and come up with such positive sentiment, truly reaffirms our belief that the Eventerprise platform is ready to serve the American events industry. We are ready to take the stress out of creating the most memorable events.”
Adam Smith, owner of the digital growth agency Sound Press, highlighted the following in the Due Diligence report: “They have a plan in place to put the funding towards the right tasks for proving the business model and acquiring market share. The supporting documents are some of the best I’ve seen in regards to preparedness.” It was not only the firm’s marketing strategy that received ringing endorsements, its underlying technology gained high praise from Keiretsu Forum veteran and San Francisco angel investor Peter Henry: “Whereas typical early-stage tech start-ups have a great deal of risk inherent in their untested ability to deliver on the promise of their technology vision, this is not the case with Eventerprise. If anything, the technology, and its development are among the least risky aspects of the business at this point, and it’s more about the marketing and execution of launching the offering in the right place and time.”
The management team, led by serial entrepreneurs and industry experts Birgit Thümecke, Götz Thümecke and Charlie Wright, clearly understand the potential of the event management software market, the size of which is expected to balloon to $11.4 billion by 2024 according to latest research. Industry giant Cvent’s recent acquisition of the event technology provider DoubleDutch provides testament to the event industry’s continuing ability to develop and embrace innovative digital solutions. With two-sided platform models being already well established with consumers in the United States, Eventerprise covers a niche which has been long overlooked by the industry’s established technology powerhouses. Its unique focus on the streamlining of interactions between event hosts and vendors of event products, services or venues allows the company to, in the words CEO Birgit Thümecke, “level the playing field by bringing trust, order and simplicity to an underserved and fragmented industry.”
Eventerprise has recently extended its reach into the Asian market, with a Singaporean hub coming online in 2019. Investor sentiment in the region has followed suit, with its current round adding Phillip R. Lynch, Vice President, Commercial Growth & Innovation at Johnson & Johnson Asia Pacific, to its list of seasoned angel investors. “My investment is predicated on good leadership, the right team and its business model. The team is privileged to be led by an outstanding leader in Birgit Thümecke, who is well qualified to take Eventerprise forward. Birgit’s impressive corporate background, digital and new business capabilities and a burning passion to lead the business forward is just what’s needed to see the Eventerprise team fulfill its potential.”
Funds secured from the current late-seed round, which is led by San Francisco based Act 5 Ventures, are earmarked for extensive sales and marketing activities across Los Angeles County, as well as further investment in its R&D capabilities. With expansion milestones and revenue targets in place the team now heads toward kicking off an expected Series A funding round in April 2020 full of optimism. With the event industry having seen high profile exit transactions such as Eventbrite’s $3 billion IPO in 2018, Eventerprise’s market-ready platform, detailed roll-out plan, and potential for a 15-fold return over five years (based on comparable investments), offers a very compelling investment opportunity.
To learn more about the Eventerprise investment opportunity, please click here.
Learn more at www.eventerprise.com/invest
Eventerprise.com is a Swiss global tech startup on a mission to connect the world of events. We do this by ensuring technology is accessible, inclusive and affordable across an underserved market. Eventerprise makes it easier to create memorable experiences by helping everyone find the best vendors, venues and event professionals, all on one platform.
Birgit Thümecke is co-founder and CEO of Eventerprise.com, a global marketplace platform that connects event organizers with event professionals as well as vendors of event-related products, services, and venues. As a recipient of a Stevie Award for Women in Business she is committed to building a world-class distributed organization that serves all its stakeholders with growing value.