Event-led engagement platform Airmeet has raised $35 million in Series B funding from Prosus Ventures, Sistema Asia Fund, RingCentral Ventures, KDDI Open Innovation Fund, DG Daiwa Ventures and Nexxus Global along with the participation of Sequoia Capital India and Accel India.
Last year Airmeet is said to have scaled its recurring revenue 24X since Series A investment and is growing at 30 per cent MoM, and enabled more than 120,000 event organisers to stream 150 million minutes of video airtime globally. Key customers helping to lead organic growth include Flipkart, Fifth Element Group, BMF Media, Unifrog Education, NPower Inc, University College London, Rotman School of Management, Zircom (Shell Oil), Viacom CBS, Texas Tech University Health Sciences Center, Minnesota State University, Mankato, and First3Years.
The new funds raised by the company will go towards expanding its footprints in the global marketplace, with plans to invest heavily in R&D, and scaling its GTM function. The team will also be focussing on strategic activities that will bring more visibility to the brand and its offerings in the international market.
“Customer engagement has been fast evolving into a space that needs to go beyond the traditional channels. Brands have to start conversations and engage with customers without losing their human touch in the virtual space. Our mission has always been to focus on engagement and assist businesses with scaling their customer engagement through multiple interactive event formats,” said Lalit Mangal, CEO and Co-founder of Airmeet.
Ashutosh Sharma, Head of Investments, India, Prosus Ventures, said, “The pandemic has brought in a marked shift in the way we work, the way we interact with customers, employees, and other stakeholders. This shift has further accelerated the adoption of agile and virtual solutions to cater to business needs. We are excited to partner with Airmeet as they support the transformation and evolution of the enterprise SAAS marketing space and deliver an outstanding audience experience through a uniquely customer-centric approach.”
With the ability to scale up to one lakh participants, Airmeet support multi-format events such as webinars, hybrid conferences, trade shows and workshops. Airmeet is also building an all-year-round engagement suite that will extend into virtual reality and metaverse to deliver a highly immersive experience.