Airmeet, a virtual event platform operator, announced on February 8, 2022, that it has raised a Series B round of funding totaling US$35 million (approximately 4 billion yen).
What is Airmeet?
Airmeet is a virtual event platform company co-founded by Lalit Mangal, Manoj Singh, and Vinay Kumar Jaasti in 2019.
Headquartered in the US, the company is remote-first and has over 300 employees in India and North America.
It has grown rapidly through word of mouth from its existing user community and is still growing at 30% month-over-month, having hosted over 120,000 events to date and delivered 150 million minutes of video streaming.
Airmeet's platform features an immersive event experience that allows businesses and communities to connect and communicate with their audiences through events to deeply explore their audience's needs and increase customer engagement.
NPS and G2 Crowd have been well received by the user community, and the two products offered, "Conference" and "Social Webinar," have been used by over 100,000 The two products, "Conference" and "Social Webinar," support multi-format events of up to 100,000 attendees, webinars, hybrid conferences, tradeshows, and workshops, and extend into virtual reality and the metaverse to provide a highly immersive experience.
The financing was provided by Prosus Ventures, Sistema Asia Fund, RingCentral Ventures, KDDI Open Innovation Fund, and DG Daiwa Venture. Fund, DG Daiwa Ventures, Nexxus Global, Sequoia Capital India, and Accel India. The funds raised in this round will be used to support the company's business activities.
With the funds raised in this round, the company will invest heavily in R&D and expansion of GTM capabilities to expand its business in the global market, and will also focus on PR strategies to increase its brand and product awareness globally.
Comments from related parties
Lalit Mangal, CEO and co-founder of Airmeet
With the rapidly growing need for new solutions in customer engagement, brands must communicate with their customers with a human touch, even in the virtual space. Our mission is to help companies increase customer engagement through interactive events, always with a focus on engagement.
Ashutosh Sharma, Head of Investments, Prosus Ventures, India
This pandemic has brought about significant changes in the way we work and interact with our customers, employees, and other stakeholders. This change has led to a greater business need for agile and virtual solutions. We are pleased to partner with Airmeet, a company that is driving change and evolution in the enterprise SaaS market and delivering superior audience experience through its unique customer-centric approach.
Sumit Jain, Senior Partner, Sistema Asia Fund
The global market for virtual events has grown to $110 billion, driven by the new normal of work, networking, and marketing. Airmeet is well positioned to drive this major paradigm shift in the global meetings market.
Abhishek Mohan, Principal, Sequoia India
This pandemic is driving companies to digitize their communications with various stakeholders, and Airmeet is right at the forefront of this shift. We have partnered with Airmeet for over 18 months now and have seen their product focus, relentless execution, and high customer satisfaction. We look forward to seeing Airmeet grow for years to come!
Masato Okuma, President, DG Daiwa Ventures
As the way we work around the world increasingly moves online, Airmeet offers an innovative product that combines the best of both online and offline. We see a market need for a full stack of customer engagement that existing solutions do not have. We are honored to be a part of Airmeet through this investment and look forward to working with them on their efforts in the Japanese market.
Kira Makagon, Ring Central Chief Innovation Officer
The demand for customer engagement software in the virtual realm is accelerating due to the push toward remote work and hybrid work styles. We are proud to be an investor in Airmeet, which has experienced rapid growth since its launch in 2019, and RingCentral Ventures' mission is to "support the transformation to communication and collaboration," and Airmeet is a world-class solution that does just that. Airmeet is a world-class solution that does just that.
For more information on Airmeet, please visit Airmeet's official website.
We’re cracking open our bottle of virtual champagne & we just can’t keep calm!?
— Airmeet (@airmeet) February 8, 2022