Vendelux, the first AI-powered event intelligence platform, has announced a $14 million Series A led by FirstMark Capital with participation from Cervin Ventures and several other venture capital firms. Industry-leading angels including Jonathan Weiner (Founder, HLTH, ShopTalk, and Money20/20) and Jay Weintraub (Founder, Connectiv Events) also invested in the round.
The new funding will be used to expand Vendelux’s geographic footprint, including building out a London-based team. UK-based events serve enterprises across EMEA and Vendelux’s GDPR compliant insights make it easy to adopt the platform. Product investments will see the Vendelux platform grow to connect the entire end-to-end event marketing journey. The company also plans to build out intelligence solutions for conference organizers.
Conferences and tradeshows have seen record attendance since the pandemic and are poised to continue on this trajectory. With iterations of remote and hybrid work enduring beyond the pandemic, in-person events serve as a critical touchpoint for sales reps, marketers, and prospective customers. As a result, in-person events are one of the most important pieces of the marketing and sales funnel. Revenue teams no longer want to hop on a plane to meet a select number of prospects at a time when they can meet hundreds of prospects in a 2-3 day timespan at a conference and build the start of a personal and working relationship.
However, it’s not always clear which events deliver the greatest return on dollars spent. Different teams measure success according to different metrics - meetings taken, new leads generated, speaking opportunities, etc., making it nearly impossible to plan for and measure ROI so that, organization-wide, companies have an understanding of the impact events have on their business. Vendelux provides sales and marketing teams tangible data that they can share with financial decision makers to justify their budget requests.