For immediate release
The Indian events industry is an economic powerhouse. This week Birgit Thümecke, CEO and Co-founder, and Barry Blassoples, VP Growth of Eventerprise, will address the Mumbai investor network as part of Eventerprise’s global funding initiatives.
Eventerprise is a tech company on a mission to connect the world of events by ensuring technology is accessible, inclusive, and affordable across an underserved market. Making it easier to create memorable experiences by helping everyday people find the best vendors, venues and event professionals, all on one platform.
Eventerprise recently announced the completion of due diligence with the Keiretsu Forum (USA), 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 Eventerprise’ $1.1 million late-seed funding raise coupled with significant industry and investor validation. With $275,000 already secured in the 1st close of the round, the report and additional financing of $825,000 will fuel the company’s growth marketing initiatives and launch in the greater Los Angeles region.
The move to address the Indian investor community is a logical one for the Swiss and US incorporated business, with an established strategic R&D partner in Vadodara, India, Co-founder and events entrepreneur, Charlie Wright, is excited by the potential: “India being arguably one of the largest events markets in the world makes the local validation, investment and partnerships already secured tremendously significant for us. We are now very much looking forward to launching the platform here in due course.”
Dr. Rajen Kilachand, investor, businessman and prolific philanthropist adds: “I have known Charlie for a number of years and his friendship and absolute commitment to what he does, along with his integrity as a businessman are what have convinced me to get behind Eventerprise, and I’m delighted to be part of the early pioneers in this platform.”
The experience with Keiretsu has been invaluable and created a platform to present the next phase for Eventerprise at a series of global events. “Receiving the stamp of approval from such an internationally recognized due diligence process was a key objective for us,” echoed Birgit Thümecke, who acknowledges that the benefits go far beyond funding from the Keiretsu network. “Having the opportunity for some of the best in the business to take a deep dive into every corner of our business, and come up with such positive sentiment, truly reaffirms our belief that the Eventerprise platform is ready to serve the global events industry.”
Adam Smith, owner of the digital growth agency Sound Press, Cincinnati, USA, highlighted the following in the final 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 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 the latest research. Industry giant Cvent’s recent acquisition of the event technology provider DoubleDutch provides a 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 India and the United States, Eventerprise covers a niche that has been long overlooked by the industry’s established technology powerhouses. Its unique focus on streamlining the interactions between event hosts and vendors of event products, services or venues allows the company to, in the words of 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.”
Funds secured from the current late-seed round, which is led by San Francisco based Act 5 Ventures, are earmarked for market activation activities across the greater Los Angeles region, as well as further investment in its R&D capabilities. With expansion milestones and revenue targets achieved, the team will head toward Series A 9 months after launch, at the latest, full of optimism. The event industry has 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 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.
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.