BusyEvent Mobile, the revenue-driving conference and tradeshow mobile platform, closed an additional $1.2 million in Series B financing on the heels of a successful Series A round in 2013. This means the company has reached its $3 million funding goal.
The company was assisted by its board of directors and a group of technology industry advisors. It plans to invest in increasing sales and engineering staff and accelerate sales and marketing efforts.
BusyEvent mobile platform is known for its unique DataKey system designed to track the digital trail of more than 25 attendee interactions through the full life cycle of an event across a range of timelines, devices and locations. The DataKey is then available for immediate purchase directly from within the app, by exhibitors, speakers and sponsors, allowing event organizers to derive new revenue streams with no additional investment in resources.
Ninety-five percent of BusyEvent’s financing was raised from Missouri-based backers.
“This region has a vibrant and growing tech scene with a significant number of outstanding investors ready to participate in building industry-leading companies,” said Joe Pimmel, chief financial officer, BusyEvent. “We were fortunate to receive an incredible response to the unique value of our DataKeys feature and our mobile platform’s potential in market. We’ve already expanded our efforts to grow our client base and further develop the revenue-driving mobile features we’re known for. This funding provides a smooth runway to do that via additional staff and the execution of our corporate expansion strategy.”
Throughout 2014, BusyEvent has been focused on growing its portfolio of key event organizer and meeting management company clients who operate thousands of expos and events each year. The new financing will provide the company with the flexibility to accelerate growth and to capitalize on the recent move into a state-of-the-art office facility, suitable for the expanding organization, in the Greater St. Louis area.
“BusyEvent has developed a powerful set of unique capabilities targeted at the for-profit event organizer market,” said Mark H. Zorensky, president, Hycel Properties Co., and lead investor and BusyEvent advisor. “The team’s vision for driving new profitability from events, in combination with providing a robust, attendee-centered event app, is incredibly compelling from both a mobile and revenue standpoint. We’re excited to have this kind of entrepreneurial technology team in St. Louis, and to help the company capitalize on major growth opportunities.”
For more information on the BusyEvent Mobile platform, visit www.busyevent.com.