On Wednesday, DoubleDutch, a mobile technology and event performance company raised $45 million through the Series E funding led by KKR along with Bessemer Venture Partners and Index Ventures.
Started in 2011, DoubleDutch is an award-winning platform of mobile event applications with a special approach on capturing and surfacing data from live events. The technology helps attendees on the front end and provides event performance analytics for event managers on the backend. This company is the first to bring a data-driven technology approach to the event industry. The SaaS-like pricing model of the business provides its users year-round access to their range of event monitoring apps. These mobile apps have replaced printed guides and maps and they also help in registering in the networks. It operates in San Francisco, Amsterdam , London, Hong Kong and Portland and its clientele includes Cisco, UBM, Lowe’s, PwC, Novartis and Estee Lauder.
Pankaj Prasad, DoubleDutch’s co-founder and Global Head of Sales said, “We are growing well north of 100% year over year and see no signs of things slowing down. He also added, “Our product is being adopted all over the world by events of all sizes and in any industry, in order to measure their success.”
With the fresh funds, the company plans to grow into monetizing more players in the events industry that includes industry sponsors and exhibitors. It is also planning for global expansion and targeted acquisitions with the funds. “We are thrilled to team up with KKR to tackle this next stage of growth,” said Lawrence Coburn, CEO of DoubleDutch during the release. “The $565 billion spent annually on events and conferences – the biggest marketing spend in the world – is running blind. We believe that DoubleDutch can help.”
Previously, the company has raised $78.7 million from various investors like Bullpen Capital, Enspire Capital, FLOODGATE, Grace Beauty Capital and Endeavour Investment Partners.