HeadBox raises £2m after seeing growth in 2020
HeadBox has finalised a £2m fundraise led by Deepbridge Capital, bringing their total funding to £13.2m, the event tech company has confirmed.
Directors say the investment will help HeadBox to “accelerate out of the pandemic”, fueling its previous 100% year-on-year growth as well as see the company through to profitability. The events platform, already live in all major UK cities as well as in Australia, Ireland and the Netherlands will also use the funds to launch in the USA.
Deepbridge Capital’s funding for HeadBox was provided via the Deepbridge Technology Growth EIS fund.
Adrian Neilan, COO and investment director at Deepbridge Capital said: “We have been impressed by the HeadBox management team, their business model, their market-leading software products, Lead Feed and Smart Book, and their strong, growing customer base. We believe the Company, with our capital and support, has significant growth potential as it continues to disrupt the events sector. It is innovative and growth-focused companies, like HeadBox, which the Enterprise Investment Scheme is designed to support.”
HeadBox bucked the trend in 2020 by growing. As live events are now returning, the company has already doubled its team from 28 to 52 people during the past three months.
Andrew Needham, HeadBox’s CEO and founder explained: “HeadBox is on a mission to reinvent the global events industry through technology. The global pandemic has accelerated the need for digital transformation and with it, the need for our software has become a ‘must’, not just a ‘nice to have.’ Covid has brought additional complexities and considerations to the events sector, resulting in major corporations now having to do more than ever before but potentially with fewer people and less budget.”
He continued: “We are very focused on ensuring our software helps both our corporate clients and our host venues create greater efficiencies within the increasingly complex event booking process. Therefore, during the pandemic, we beat traditional agency incumbents to win significant multi-year contracts from FTSE 100 companies in the media, professional services and FMCG sectors.”