Banzai, a Seattle-based startup that sells event marketing software, today announced a $7 million Series A investment.
- Founded in 2016 by former employees of Avalara, Banzai originally started as an on-demand internal sales and marketing platform. Now, he helps companies like Microsoft and Dell drive event registrations. Revenue doubled in 2019, with Banzai supporting 1,400 events.
- Despite several major conferences being canceled or postponed due to the coronavirus outbreak, Banzai’s CEO Joe Davy said most companies still hold smaller events. Banzai is also seeing increased interest in its virtual event marketing solution.
- “With the increase in COVID-19 cases, a lot of people are nervous and that fear is more contagious than the virus itself,” Davy told GeekWire. “Many of our customers are migrating from live events to virtual events, which is a great approach for those who aren’t comfortable with travel or large gatherings. Luckily, we have plenty of customers who are already using Banzai for virtual events, and we expect others to adopt it.
- DNX Ventures led the round, which included participation from Vulcan Capital. The company of 70 people had already started. It will use the new money to double its workforce and expand its product line.