1 min read.Updated: 08 Feb 2022, 08:17 PM ISTLivemint
Last year Airmeet experienced organic growth from its existing user community
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Event-led engagement platform Airmeet, today announced that it has raised $35 million in Series B funding. New investors Prosus Ventures, Sistema Asia Fund, RingCentral Ventures, KDDI Open Innovation Fund, DG Daiwa Ventures and Nexxus Global participated alongside existing investors Sequoia Capital India and Accel India in this round.
Funds raised 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 focusing on strategic activities that will bring more visibility to the brand and its offerings in the international market.
Last year Airmeet experienced organic growth from its existing user community, scaled its recurring revenue 24X since Series A investment and is growing at 30% month-on-month, and enabled more than 120,000+ event organizers 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.
“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.
Airmeet offers two product formats; Conference and Social Webinar. With the ability to scale up to 100,000 participants, support multi-format events such as webinars, hybrid conferences, trade shows & workshops, Airmeet is building an all-year-round engagement suite that will extend into virtual reality and metaverse to deliver a highly immersive experience.