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.
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, the statement said.
“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.
Ashutosh Sharma, Head of Investments, India, Prosus Ventures, said, “The pandemic has brought in a marked shift in the way we work, the way we interact with customers, employees, and other stakeholders. This shift has further accelerated the adoption of agile and virtual solutions to cater to business needs. We are excited to partner with Airmeet as they support the transformation and evolution of the enterprise SAAS marketing space and deliver an outstanding audience experience through a uniquely customer-centric approach.”
“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,” commented Sumit Jain, Senior Partner at Sistema Asia Fund.
“This pandemic has shifted the way companies engage with various stakeholders (customers, employees, etc.) to digital given the efficiency and immersive experience associated with it. Airmeet is at the forefront of this transformation. We’ve been a partner to Airmeet for 18+ months now and are impressed with the team’s product focus, relentless execution, and the immense customer love for the product. We look forward to many more years of compounding growth at Airmeet.” – Abhishek Mohan, Principal, Sequoia India
“The working style has dramatically shifted to online over regions. Airmeet provides an innovative platform that benefits both online and offline conference features. As the platform can deliver convenient and engaging full-stack customer experiences, we believe in the potential for further market expansion. We are honored to partner with Airmeet teams on its remarkable journey and excited to tackle the Japanese market together.” – Masahito Okuma, Representative Director of DG Daiwa Ventures
“The ongoing shift to remote and hybrid working has accelerated demand for virtual engagement software. We’re proud to be an investor in Airmeet, which has seen tremendous growth since it launched in 2019. The Airmeet team has built a world-class solution that aligns with RingCentral Ventures’ mission to support breakthrough innovation in the communications and collaboration space.” – Kira Makagon, Chief Innovation Officer of RingCentral
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