AI-Powered Event Platform Vendelux Raises $14M In Series A Funding
- Written by Kelly Lindenau
- Published in Financial News
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Vendelux, an AI-powered event intelligence platform, raised $14 million in a Series A funding round led by FirstMark Capital with participation from additional investors. With the new capital, the Vendelux plans to expand its geographic footprint, enhance product development and acquire new customer segments.
Powered by AI and predictive modeling, Vendelux’s platform seeks to help event marketers and CMOs analyze customer and competitor behavior and make informed decisions about event attendance or sponsorship by analyzing 65 million data points from more than 160,000 global events and CRM integrations. Vendelux plans to use the footage to:
- More than double its team by the end of 2024;
- Connect the entire end-to-end journey of event marketers as they plan, execute and evaluate their event strategies; and
- Build intelligence solutions for conference organizers.
“Events are the most important piece of the marketing and sales funnel, but it’s not always clear which events deliver the greatest return on dollars spent,” said Alex Reynolds, CEO and Co-founder of Vendelux, in a statement. “With teams operating off of different metrics — such as meetings, deals, speaking opportunities, etc. — it’s no wonder the success is so difficult to define. Year after year, [Vendelux’s COO and Co-founder] Stefan [Deeran] and I saw firsthand the challenges of evaluating which events were worthwhile to attend or invest in. We built Vendelux to solve those very challenges. Vendelux delivers the ability to both plan for and measure ROI so that, organization-wide, companies have an understanding of the truly massive impact events have on their business.”