Event marketing

B2B event marketing firm Goldcast has raised $28 million

  • Goldcast creates Netflix-style virtual and hybrid events for B2B marketers.
  • The company works with clients such as GitHub, Hootsuite, and Microsoft’s Intuit.
  • It just raised $28 million in Series A funding from private equity firm Westbridge Capital.

Goldcast, which creates Netflix-style virtual and hybrid events for B2B marketers, closed a $28 million Series A funding round led by private equity firm Westbridge Capital, with participation from the company of venture capital Unusual Ventures.

Goldcast has now raised a total of $40 million after receiving $10 million in seed funding from Unusual Ventures in February.

CEO Palash Soni, a former product manager for mobile marketing platform InMobi, co-founded Goldcast in 2020 with COO Kishore Kothandaraman, a former CFO of healthcare company DaVita Kidney Care and partner at Boston Consulting Group; and chief technology officer Aashish Srinivas, a former Jet.com engineer, now deceased from Walmart.

Goldcast customers include IT company GitHub, Hootsuite, and Microsoft-owned Intuit. It employs 85 people, split evenly between the United States and India.

Soni said Goldcast’s point of difference is that it gives customers information about event attendees that they can then use to advertise to them.

“Let’s say you have an event with 2,000 attendees,” Soni said. “We can see if anyone showed interest in machine learning sessions and responded to a survey saying machine learning is a priority for them.”

Goldcast is trying to reinvent the stuffy conference arena by taking inspiration from Netflix. It automatically directs participants to the next conference session like Netflix does with show episodes, for example. “People binge watch content on Netflix because of its engagement and user-friendliness,” Kothandaraman said.

Goldcast plans to use the new funding to invest in technology to further improve the experience.

“As digital events increasingly become the norm, there is a strong market opportunity here and Goldcast is leading the pack,” said Westbridge co-founder and chief executive Sumir Chadha, who joined the board of administration of Goldcast.

Kothandaraman said fundraising in today’s uncertain economy was not easy.

“We had such traction, both revenue growth and excellent retention metrics, but investors were still very wary and there was certainly a lot more due diligence on the strength of the core business,” said he declared.

Despite the return of in-person events, economic uncertainty has pushed companies to hold smaller virtual and hybrid events that are cheaper than large in-person conferences, Soni said.

“People crave in-person experiences, but big conferences no longer attract attendees,” Kothandaraman said. “B2B companies are using digital events to narrow the funnel, to hold regional workshops with target audiences.”

Scroll down to read the pitch deck used by Goldcast to entice investors.