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Major Funding for Firm Making Sense of Events
Mobile event technology company DoubleDutch has announced a $45m round of growth financing, for use in global expansion, sales and marketing, and targeted acquisitions.
The company, which has 260 employees in offices in San Francisco, Portland, Amsterdam, London and Hong Kong, provides a mobile app for attendees at corporate events and trade shows, and rapid event performance analytics on the back end, including sentiment analysis and engagement benchmarks. Since its founding in 2011, it has focused mostly on selling to event organizers and planners, but says it plans to unlock new revenue streams with an increased focus on delivering ROI to an event's sponsors and exhibitors.
The funding was led by KKR, with participation from existing investors including Bessemer Venture Partners and Index Ventures.
DoubleDutch CEO Lawrence Coburn comments: 'We are thrilled to team up with KKR to tackle this next stage of growth. The $565 billion spent annually on events and conferences - the biggest marketing spend in the world - is running blind. We believe that DoubleDutch can help'.
Co-founder and Global Head of Sales Pankaj Prasad says the company is 'growing well north of 100 percent year over year, and sees no signs of things slowing down'.
Web site: www.doubledutch.me .
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