Swoogo Secures $20 Million Series B Growth Investment Led By Bain Capital To Expand Enterprise Event Management Platform Offering
Swoogo, a fast-growing event management software company, announced a $20 million growth investment led by Bain Capital. The new funding will accelerate Swoogo’s rapid expansion into a full-scale enterprise platform for event management, as well as solidify its competitive offering in the hybrid and virtual event space.
“We are excited to partner with Swoogo at a critical juncture in the company’s evolution and the event management software market more broadly,” said David Healey, a Vice President at Bain Capital. “We believe Swoogo’s differentiated SaaS capabilities, industry pedigree, and driven team position the company well for accelerated growth.” As part of the transaction, David Healey will be joining Swoogo’s board.
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Founded in 2015 by event technology veterans Leonora Valvo, Tim Cummins, and Neil Keefe, Swoogo’s platform simplifies the overwhelming complexity of corporate event management at scale. Now under the leadership of CEO Christopher Sykes, who acquired a majority ownership stake in March 2020 backed by Eagle Rock Capital, Swoogo has nearly tripled its recurring revenues in the past two years. With expanded offerings that continue to embrace the ethos of ease-of-use, Swoogo’s enterprise client portfolio has also grown rapidly, with businesses including Atlassian, Box, and DocuSign using Swoogo to manage their events.
“Swoogo has been a true partner to us as we’ve scaled our event portfolio and hosted industry-leading digital events, and as we plan for our upcoming flagship event, Team ’22— to be held as a hybrid event in Las Vegas,” said Blane Barker, Senior Team Lead for Event Marketing & Technology at Atlassian. “We appreciate Swoogo’s flexibility, customization, ease of use, and the support we receive from the Swoogo team.”
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With the current product earning reviews like “the best business decision you can make as an event prof [G2],” the Swoogo team is looking forward to enabling event marketers to further simplify their workflows through significant feature expansion over the next 18-months.
“It’s a new era for events,” said Sykes. “As a result of COVID and the industry’s rapid pivot to virtual events, we’ve seen decades of development compressed into months. Event marketers have come to expect more from their event technology and event output: more data, more insights, more customization, and more seamless integrations with their martech stack. With Bain Capital’s support, we look forward to bringing the same rich insights we’ve unlocked for virtual events to in-person and hybrid events. Most importantly, we remain committed to our mission of empowering anyone to bring people together, while delivering best-in-class service that puts event organizers first.”