Event-led engagement platform Airmeet announced that it has raised $35M USD 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.

Last year Airmeet experienced tremendous organic word-of-mouth growth from its existing user community, scaled its recurring revenue 24X since Series A investment and is growing at 30% MoM, 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.

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“The global market for virtual events has grown to become a $110B opportunity aided by the new realities of work, networking, and marketing. Airmeet with their acclaimed superior product delivering a near offline-equivalent conference experience is placed well to tap into this major paradigm shift in the global conferencing market”

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.

“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, co-founder of Airmeet.

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Airmeet’s immersive engagement suite empowers businesses and communities to connect with their audience, engage in meaningful conversations, exchange feedback, and build long-lasting relationships through events. Marketers, community managers, sales executives, and customer relationship teams leverage Airmeet’s 360-degree attendee engagement suite to dive deep into audience needs and dynamically update their customer engagement strategy with highly interactive touchpoints.

Offering two product formats – ‘Conference’ and ‘Social Webinar’, Airmeet enables businesses and organizations to break boundaries, build relationships and unlock new revenue streams. With the ability to scale up to 100,000 participants, support multi-format events such as webinars, hybrid conferences, trade shows, and workshops, Airmeet is building an all-year-round engagement suite that will extend into virtual reality and the metaverse to deliver a highly immersive experience.