Event intelligence software Vendelux has announced that it has raised $2.4 million in seed capital financing to fuel its future development of its product suite. The funding was led by Tenacity Venture Capital with additional participation from Grey Capital and Pareto Holdings.
The investment will enable Vendelux to improve its technology to help users find and track events with key customers, competition, and business partners. The newly-funded solution is expected to become a powerful tool for B2B brands to discover, research, and plan their optimized event strategies.
“Our mission is to empower event marketers to lead and thrive, and we are thrilled to be partnering with Tenacity Venture Capital to make this mission a reality,” said Vendelux co–founder and CEO Alex Reynolds. “This round of funding will help us continue to grow and expand our platform, delivering even greater value to our global customer base.”
The corporate events market is projected to grow to a size of $510.9 billion by 2030 ($95.3 billion in 2020). The growth at an annual rate of 17.3 percent from 2021 to 2030 indicates the increasing market for softwares such as Vendelux in the B2B space.
The platform is designed to give event marketers the tools necessary to maximize event ROI. With a database spanning more than 30,000 trade shows, conferences, and other events, the platform streamlines the information that event planners can gather on their customers and competitors.
Around the world, top companies such as Active Campaign, Gainsight, Gorgias, and Spekit trust the platform to help them reach their audiences and plan event strategies.
“There is unprecedented demand to visit customers and colleagues again,” said Stefan Deeran, Vendelux co–founder and COO. “As companies re-imagine the future of work, marketers rely on Vendelux to build the perfect event marketing strategy.”