Vendelux, the pioneer in AI-powered event intelligence, has successfully raised $14 million in a Series A funding round led by FirstMark Capital. Other participants in the funding round include Cervin Ventures, founders of prominent events such as HLTH, ShopTalk, Money20/20, Manifest, Blueprint, and SaaStock.
The funding will facilitate the expansion of Vendelux’s collaboration with enterprise clients, including PayPal, MongoDB, Calendly, and T-Mobile.
By leveraging artificial intelligence (AI) and predictive modeling, Vendelux’s platform empowers event marketers and CMOs to analyze customer and competitor behavior, make informed decisions about event participation or sponsorship, and ultimately enhance customer acquisition for increased ROI.
With a vast dataset comprising 65 million data points from over 160,000 global events and deep CRM integrations, Vendelux offers a unique solution by delivering quantifiable business impact assessments of in-person events, tradeshows, and conferences worldwide.
Alex Reynolds, CEO and co-founder of Vendelux, highlighted the challenges of evaluating the ROI of events, which are crucial in the marketing and sales funnel. Vendelux aims to address these challenges by providing a comprehensive understanding of the significant impact events have on businesses, both in planning and measuring ROI.
With the new funding, Vendelux plans to expand its geographic reach, invest in product development, and target a broader range of customer segments. The company intends to double its team size by the end of 2024, including the establishment of a London-based team.
Amish Jani, Founder and Partner at FirstMark Capital, commended Vendelux for defining a new category in event intelligence. He emphasized the significance of introducing robust data infrastructure to a critical customer acquisition channel, and he expressed enthusiasm about Vendelux’s acceleration in delivering data-driven insights that fill a crucial gap in the market.