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Friday, June 18, 2021

Event Networking Platform Brella Raises $10M

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Event networking technology platform Brella has raised $10 million in Series A funding, the company announced. 

Founded in 2016 and based in San Francisco, Brella initially served as a matchmaking tool using artificial intelligence for in-person events, according to the company. As clients began to cancel meetings during the pandemic and switch to digital events, however, the company built out a virtual platform. As a result, company revenue subsequently increased in 2020 by four times from 2019 levels, and Brella facilitated more than 1 million one-on-one meetings, it said.

With hybrid events currently in high demand, Brella plans to use the funds to invest in research and development for features to unite hybrid audiences, to scale its architecture to improve its platform uptime, and to “lower the bar” for organizers who want to host hybrid events, according to the company.

Brella makes money by selling to organizations on a per-event basis. The price is based on the number of attendees that join the event platform, according to the company.

Connected Capital was the lead investor for this round, with Vendep as a returning investor.

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