Vendelux, the first AI-powered event intelligence platform, announced it raised a $14 million Series A led by FirstMark Capital with participation from Cervin Ventures, the founders of HLTH, ShopTalk, Money20/20 (Jonathan Weiner), Manifest, Blueprint (Jay Weintraub), and SaaStock (Alex Theuma). Today’s funding enables Vendelux to expand its work with enterprise customers including PayPal, MongoDB, Calendly, T-Mobile, and others.
owered by artificial intelligence (AI) and predictive modeling, Vendelux’s platform enables event marketers and CMOs to analyze customer and competitor behavior, make informed decisions about which events to attend or sponsor, and ultimately, close more customers to increase ROI. With 65 million data points from over 160,000 global events, and deep CRM integrations, Vendelux’s data-driven solution delivers an industry first: quantifiable business impact of in-person events, tradeshows, and conferences worldwide.
“Events are the most important piece of the marketing and sales funnel, but it’s not always clear which events deliver the greatest return on dollars spent. With teams operating off of different metrics – meetings, deals, speaking opportunities, etc. – it’s no wonder the success is so difficult to define,” said Alex Reynolds, CEO and co-founder, Vendelux. “Year after year, Stefan and I saw firsthand the challenges of evaluating which events were worthwhile to attend or invest in. We built Vendelux to solve those very challenges. Vendelux delivers the ability to both plan for and measure ROI so that, organization-wide, companies have an understanding of the truly massive impact events have on their business.”
With this funding Vendelux will expand its geographic footprint, product development, and customer segments. Vendelux plans to more than double its team by the end of 2024 including building out a London-based team. UK-based events serve enterprises across EMEA and Vendelux’s GDPR compliant insights make it easy to adopt the platform. The product investments will see the Vendelux platform grow to connect the entire end-to-end journey of event marketers as they plan, execute on, and evaluate their event strategies. Vendelux also plans to build out intelligence solutions for conference organizers after receiving feedback from many marquee organizers that are existing customers and investors.
“The Vendelux team is defining a new category in event intelligence. Their customers’ success with the product demonstrates what is possible when you introduce robust data infrastructure to a critical customer acquisition channel for the first time. We were blown away by feedback received from both global enterprise customers and rapidly growing mid-market companies alike,” said Amish Jani, Founder and Partner, FirstMark Capital. “Vendelux is accelerating at the exact right moment, seizing the best of artificial intelligence’s capabilities to deliver data-driven insights that don’t exist anywhere else.”
SOURCE: BusinessWire