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Eventtus, the Leading Event App Provider in the Middle East, Raises $2 Million
Eventtus announces a new global investment round of 2 mil. USD led by Algebra Ventures and 500 Startups. This brings the total capital raised by the company to 2.65 mil. USD in less than 2 years. Previous investors include Raed Ventures and MEVP. The investment is among the top 10 investments that have been in the MENA region in the past 6 months . This comes in the context of the growth of the events industry and a clear mindset of event organizers globally keen on integrating digital apps and features for enhancing the event experience for participants.
New goals, new features
The investment will allow Eventtus to accelerate its expansion in the Middle East and introduce new products to also compete on a global scale. The company’s roadmap focuses on developing new platform features for optimizing the outcomes of all event stakeholders. New features range from making the lead generation process more efficient for exhibitors to diversifying the revenue generation options for organizers. Also, Eventtus is on course to launch its’ new AI module that will enable participants to identify the best people to connect to at each event based on a machine learning algorithm that understands their business goals better and better with each interaction.
Surpassing the industry’s average
Eventtus has been experimenting with technologies such as social media integration, personalization or real-time intelligence, and has seen an impact in the engagement rates of attendees and an increase in the longevity of event series. In this context, features such as the customized event agenda, the event sharing feed or the real-time polls that Eventtus launched in the past 18 months have proven to be an anticipation of the attendees’ and organizers’ newly-discovered expectations. Thus, events served by Eventtus have seen an increase in the engagement rate of attendees of up to 91%.
The event tech industry has seen an astounding growth with more than 65% of the event goers engaging in online activities such as checking in, posting and commenting. This increased engagement enables event organisers to create series of events or new events and, implicitly, sell more tickets. This is particularly relevant as, at a global level, ticket sales generate 46% of all the revenues for events.
This is the fourth investment made this year by Algebra Ventures - a VC fund backed by CISCO, EBRD, and IFC. ‘Our investment in Eventtus is premised on the technological disruption that is happening globally in the world of events,’ says Ziad Mokhtar, Managing Partner of Algebra Ventures. He adds, ‘it is also premised on the great product that Eventtus has built and the customers they have managed to attract. The region’s events and conferences industry has grown significantly over the past years with revenues today exceeding $5 billion. With its deep understanding of the needs of event organizers and event goers, Eventtus is well positioned to play a leading role in transforming this industry.”
‘500 Startups is proud to invest in such a great team, led by Mai Medhat and Nihal Fares. We look forward to supporting them as they aim to disrupt the events-related technology space and improve overall conference experience in the region and beyond. With the MENA region becoming a major hub for global launches and events, the opportunity in this space is significant. We look forward to welcoming Eventtus to the global 500 Startups family.’, said Hassan Haider, Partner at 500 Startups.
‘Despite the growing use of digital tools by event organizers, the event industry is yet to be fully disrupted by a Facebook-type of holistic platform that covers and integrates the needs of all event stakeholders - from organizers to speakers to suppliers and up to exhibitors and attendees. This round comes at a time when we believe that the Eventtus platform is ready to fulfill that role in the events market. This round has the strategic value of enhancing our capacity to work with global companies organizing major events in the MENA region as well as making Eventtus the main platform and event app provider for regional event organizers.’ said Mai Medhat, CEO of Eventtus.
Eventtus is an-all-in-one platform for events ticketing, event management and apps for events and it has become the leading event app provider in the Middle East. It creates interactive event apps that allow event organizers to engage attendees by enabling them to customize their event schedule through an interactive agenda as well as offering them instant updates through a social media feed and opportunities to network with other attendees. The company successfully served 9,000 events in 15 countries and managed clients such as Dubai Expo 2020, Informa, DMG Events, STEP Conference, Emirates Foundation, ArabNet and many more.
Founded in 2012 by Mai Medhat and Nihal Fares, Eventtus has grown to a team of 35 and has now two regional offices with its headquarters in Dubai and the operations office in Cairo, Egypt. The continuously fine tuned technology along with the team’s experience and cultural understanding of the region has put the company in a unique position in the Middle East market as the level of customization of event apps goes beyond app features. For more information go to www.eventtus.com.
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