Event-led engagement platform Airmeet today announced that it has raised $35 million in Series B funding. New investors Prosus Ventures, Sistema Asia Fund, RingCentral Ventures, KDDI Open Innovation Fund, DG Daiwa Ventures and Nexxus Global They participated alongside existing investors Sequoia Capital India and Accel India in this round.
In the past year, Airmeet has experienced tremendous organic word-of-mouth growth from its existing user community, has scaled its recurring revenue 24x since Series A investment, is growing at 30% month-over-month, and enabled over 120 000 event organizers stream 150 million minutes of video globally. Key clients helping to drive 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, Information Science Center Health from Texas Tech University, Minnesota State University, Mankato, and First3Years.
The funds raised will go towards expanding its footprints in the global market, with plans to invest heavily in R&D and scale its GTM function. The team will also focus on strategic activities that will give more visibility to the brand and its offerings in the international market.
“ Customer engagement has rapidly evolved into a space that needs to go beyond traditional channels. Brands must 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 help companies scale their customer engagement through multiple interactive event formats,” said Lalit Mangal, Co-Founder of Airmeet.
Airmeet’s immersive engagement suite enables businesses and communities to connect with their audience, engage in meaningful conversations, exchange feedback, and build lasting relationships through events. Marketers, community managers, sales executives, and customer relations teams leverage Airmeet’s 360-degree attendee engagement suite to drill down into audience needs and dynamically update their strategy. of customer engagement 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 attendees, support multi-format events such as webinars, hybrid conferences, trade shows and workshops, Airmeet is building a year-round engagement suite that will extend into VR and the metaverse to deliver a seamless experience. highly immersive.
Airmeet enjoys immense support and rave reviews from the user community, placing its NPS and G2 Crowd ratings among the best in the industry. For more information about Airmeet, visit https://www.airmeet.com.
Investor quotes
Ashutosh Sharma, Head of India Investments at Prosus Ventures, said: “The pandemic has brought about a marked change in the way we work and the way we interact with clients, employees and other stakeholders. This change has further accelerated the adoption of agile and virtual solutions to meet business needs. We are excited to partner with Airmeet as they support the transformation and evolution of the SAAS enterprise marketing space and deliver an exceptional audience experience through a unique customer-centric approach.”
“The global virtual events market has grown into a $110 billion opportunity with the help of the new realities of work, networking and marketing. Airmeet, with its acclaimed superior product that offers a nearly offline-equivalent conferencing experience, is well positioned to take advantage of this major paradigm shift in the global conferencing market,” said Sumit Jain, Senior Partner at Sistema Asia Fund.
“This pandemic has changed the way companies interact 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 have been an Airmeet partner for over 18 months and are impressed with the previous product’s focus, relentless execution and immense customer love for the product. We look forward to many more years of compound growth at Airmeet.” — Abhishek Mohan, director of Sequoia India.
“The work style has drastically changed to online in several regions. Airmeet provides an innovative platform that benefits both online and offline conferencing capabilities. Since the platform can offer rich, convenient and engaging customer experiences, we believe in the potential for further market expansion. We are honored to partner with the Airmeet teams on their extraordinary journey and excited to tackle the Japanese market together.”—Masahito Okuma, Representative Director, DG Daiwa Ventures.
“The ongoing shift towards remote and hybrid working has accelerated the demand for virtual engagement software. We are proud to be an investor in Airmeet, which has seen tremendous growth since its launch in 2019. The Airmeet team has created a world-class solution that aligns with RingCentral Ventures’ mission to support groundbreaking innovation in the gaming space. communications and collaboration.”—Kira Makagon, Director of Innovation at RingCentral.
About Airmeet Inc.
Airmeet is an event-driven customer engagement platform that helps businesses, associations, educational institutions, SMEs, communities, and government organizations establish meaningful touchpoints with their global audience through rich, engaging, and immersive event experiences.
Airmeet, a US-based 100% remote work company with over 300 employees spread across India and North America, was co-founded by Lalit Mangal, Manoj Singh and Vinay Kumar Jaasti in 2019. The trio have been together since Lalit’s previously successful company, CommonFloor, which was acquired by Quikr.com for $200 million.
Over 5,500 brands including Flipkart, Fifth Element Group, BMF Media, Unifrog Education, NPower Inc, University College London, Rotman School of Management, Zircom (Shell Oil), Viacom CBS, University of Technology Health Sciences Center of Texas, Minnesota State University, Mankato, and First3Years use the Airmeet platform to host events around the world every month.
