Israeli start-up networking platform and event app Bizzabo says it has secured US$2.5m in extra funding from existing and new investors to underpin new products and the roll out of an event management platform later this year.
“Our new product will allow organisers to fully manage and more effectively monetise their events with an overall better experience for everyone taking part,” said CEO and co-founder Eran Ben-Shushan.
Existing investors digging deeper include Kaedan Capital, AfterDox, and the super angel Gigi Levy. OurCrowd and Massa Group are among the new investors.
Bizzabo has attracted $4m since it started raising funds in 2011 for its free mobile app in what is certainly a competitive market. A host of networking apps out there include Meeting Appliation, OleaPark and Presdo Match, not to mention numerous location-based apps.
“Our investors have played a critical role in helping us build Bizzabo and we look forward to continuing our relationship with existing investors and bringing in critical insights from our new partners,” added Ben-Shushan.
Working in the conference market, he added, had given Bizzabo “a deep understanding as to what the meetings industry needs to become more effective and impactful”. The new funding, he noted, would allow the company to create a more comprehensive solution.
Beh-Shushan said the ‘New Bizzabo’ would launch later this year.
At one recent UK tech event, the NOAH Conference, Bizzabo says organisers were able to sign up 600 participants via the app in just a few days, with delegates using it to send over 3,000 networking messages to each other, as well as 1,000 LinkedIn invitations.
Bizzabo is available online and across iOS and Android devices and has offices in New York and Israel.
The funding comes as Bizzabo announced it had clocked up involvement in 4,000 professional events since its founding in 2012.
Do you have news for CN? Email: Paul Colston