Event marketing

Event marketing is a “team sport”, and Vendelux helps companies find the best return on investment – TechCrunch

When you attend events, conferences, and trade shows and it works well in terms of generating tons of leads and opportunities, that’s a good experience. However, when events don’t go so well, it can be risky in terms of wasting time and money.

Two ex-Shutterstock execs, Alex Reynolds and Stefan Deeran, were working together to monetize APIs and computer vision, and after witnessing some of these bad things happen, they thought there might be a better way to take action. decisions about which events should be at the top of the list. and which company team members to reach out to maximize ROI.

“We determined that event marketing is kind of this massive, team-wide sport,” Reynolds told TechCrunch. “It involves executives, the sales team, all the different marketing teams, operations and purchasing, but there is no platform or system of record to help with this collaboration, accountability and visibility. .”

As a result, he says it’s really difficult for companies to answer the basic questions; for example, which of the more than 30,000 trade shows that take place each year should this company attend, and how much revenue has it generated from this event in the past. With help from Shutterstock’s event and marketing teams, Reynolds and Deeran found ways to build processes in-house and saw the channel’s ROI increase dramatically.

That’s when they decided to look into whether this approach would work well for other businesses. They started building Vendlux in late 2021 and already have over a dozen clients, including ActiveCampaign, Gainsight and Gorgias, accessing its proprietary database of over 30,000 in-person and virtual events, including speakers, sponsors and participant level data.

Vendelux pulls data from publicly available sources and is able to show which sponsors and speakers will be attending a certain event. Users can also upload information from their CRMs – even LinkedIn contacts – and be able to see whenever a company is attending an event in the future or if someone from their network is speaking at of an event.

The company, which made its public launch this month, is seeing double-digit month-over-month revenue growth. Today it announced $2.4 million in seed funding, led by Tenacity Venture Capital, with participation from Earl Gray and strategic angel investors including Shafqat Islam and Avi Muchnik.

Vendelux Explore tab. Picture credits: Vendelux

The new funding will largely go towards product development and team expansion. Before closing the round, the founders were in the process of starting the company. However, Reynolds said it’s gotten to the point where they’re balancing customer appeals with build functionality.

“It was a good time to put some gasoline on the fire and build the team,” he added. “On the product side, we want to add a lot of things, certainly from an integration perspective.”

Meanwhile, Reynolds and Deeran approach growing the business in three phases: exploration, execution and evaluation. Currently, the company is focused on exploring the field of event intelligence, and now, with the seed round, it will move into execution.

Once a company knows where to go and who to send, one of the next steps the founders consider is to make sure there are enough meetings booked in advance, to be able to capture data that is happening and see, in real time, how reps are performing and measure ROI.

“We look at event marketers as sort of the unsung heroes of these marketing teams who put these massive plans in place and put all these people in the right place, but don’t have platforms to help them drive this responsibility and this visibility,” Reynolds added. “We want to be that record system and basically help companies make more data-driven decisions about where they need to go and what that means from a value perspective.”