Banzai, a cloud software-as-a-service provider of Event Marketing Automation solutions for enterprise marketers, today announced that it has raised $7 million in equity financing led by DNX Ventures, an early-stage VC firm focusing on B2B startups that are shaping industries and transforming the way we live and work, and with participation from Vulcan Capital, the multi-billion-dollar investment arm of Vulcan Inc. The Series A investment will be used to double Banzai’s headcount and to expand Banzai’s product and service offerings in the Event Marketing Automation category.
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Banzai announces $7M in Series A Funding, led by DNX Ventures. #VC #funding #SeriesA
Since its launch in 2017, Banzai has quickly become the go-to solution for Event Marketing Automation. More than 200 leading companies such as Dell, Google, Microsoft, and Oracle use Banzai to streamline their registration process and to drive attendance for regional and field marketing events.
Using Banzai’s end-to-end event marketing automation solution, Banzai customers have generated over 30,000 event and conference registrations around the world. In 2019, Banzai doubled its topline revenue, supported 1,400 unique customer events, and grew its team by 200 percent.
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“Events are the single largest marketing expense for companies today, with half a trillion dollars spent each year,” said Joe Davy, Banzai CEO. “There has been almost no innovation in the Event Marketing Automation category. Professionals want to be reached through powerful experiences, and companies will need to adopt new solutions to reach their customers.”
“Event marketing represents the largest budget category for marketers, and the Event Marketing Automation industry is ripe for a technological revolution,” said Mitch Kitamura, Managing Director at DNX Ventures. “Banzai has created a differentiated solution that is already becoming a standard. The process of event marketing – including audience targeting, invitations, and confirming registrations – is a logistical nightmare that keeps field marketers awake at night. With this new capital, Banzai will be able to scale up to serve more customers and expand its product offering.”
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