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Event marketing startup Banzai raises $7M; CEO anticipates more adoption of virtual events offering

Banzai, a Seattle startup that sells event marketing software, today announced a $7 million Series A investment.

  • Founded in 2016 by former Avalara employees, Banzai originally started as an on-demand inside sales and marketing platform. Now it helps companies such as Microsoft and Dell drive registrations to events. Revenue doubled in 2019 as Banzai supported 1,400 events.
  • Despite several large conferences being canceled or postponed due to the coronavirus outbreak, Banzai CEO Joe Davy said most companies are still hosting smaller events. Banzai is also seeing increased interest in its virtual events marketing solution.
  • “With the increase in cases of COVID-19, a lot of folks are nervous, and that fear is more contagious than the virus itself,” Davy told GeekWire. “A lot of our customers are migrating live events over to virtual events which is a great approach for those who are uneasy about travel or large gatherings. Fortunately we have a lot of customers who are already using Banzai for virtual events, and we anticipate more will adopt it.”
  • DNX Ventures led the round, which included participation from Vulcan Capital. The 70-person company had previously bootstrapped. It will use the fresh cash to double headcount and expand its product line.

Source: Geek Wire


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