Event Intelligence collected €125k in indications over the past six days, as part of their planned €500k round. The UK startup is using the unique UK/Estonian crowdfunding platform Funderbeam for their campaign, which allows unique investor liquidity through a “startup stock exchange”.
Event Intelligence was founded in 2013, focusing on a rate comparison solution at first, under the “RateMate” trading name. Based on customer feedback and seeing a market niche in the space, the company launched it’s first of a kind Event Intelligence solution in 2016, providing forward-looking event data for hotel revenue managers and -sales managers.
Among others, the solution provides hotels the opportunity to plan ahead for major events, maximizing their income during these periods. Without this market knowledge, an estimated €8bn in unrealized revenue is left on the table by the global hotel industry each year.
“Our current contracts (with InterContinental, Marriott, Hilton, Hyatt and Kempinski properties among others) have covered North America and Europe so far,” said Peter Gal, CEO of Event Intelligence. “Besides product development, we are focusing on expanding to new markets and to accelerate our growth we would like to raise further funding. At this stage we aim to raise half a million euros, with 20 per cent coming from crowdfunding and the rest from venture capital firms.”
The company is an alumni of Europe’s leading B2B accelerator, Startupwiseguys and the team now includes Alex Barros as an advisor, who was one of the most successful sales directors of Siteminder and Duetto.
2017 looks to be an important milestone for the innovative startup, which aims to reach a global monopoly on forward looking event data in the coming years. The startup achieved 55 per cent growth in revenues in Q1 2017 and is looking to further accelerate its growth.
The company launched it’s Funderbeam campaign on Thursday last week, and interest in the campaign has already exceeded it’s minimum target of €100k by 25 per cent.
“We will continue to collect indications in the coming days, finalising the amount we would like to involve from Funderbeam at the closing of the campaign, which will be in 10 days,” said Mr Gal. “We will take investors on board on a first come first serve basis.”
Investments to the company start from €250 on Funderbeam’s platform. As a unique feature of the platform, when the campaign is closed, investors can trade on the online stock exchange up to the amount of their investments, which provides unique investment liquidity.