Total amount raised
$6.7 Million
Latest funding date
07/01/2019
Location
Socio has successfully raised funding over three rounds, with the latest being a Series A. The company has garnered support from notable investors such as High Alpha and Greenspring Associates.
Keep reading to explore the intricacies of Socio's fundraising journey and the investors backing this innovative platform.
What Is Socio?
Socio, now known as Webex Events, was founded in 2016 and is headquartered in Indianapolis, Indiana. The company specializes in event technology, providing solutions for in-person, hybrid, and virtual events.
With a workforce of over 10,001 employees, Socio has made significant strides in the events and marketing industries. The platform offers a range of features, including registration, check-in, badge printing, mobile event apps, and virtual event platforms, aimed at enhancing event experiences.
How Much Funding Has Socio Raised?
- Series A
- Amount Raised: USD 725,000
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and development of new features.
- Series A
- Amount Raised: USD 6,000,000
- Date: July 2019
- Lead Investors: High Alpha
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand teams in Indianapolis and Istanbul and accelerate product development.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: October 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide initial funding for product development and market entry.
Total Amount Raised: USD 6,725,000. Current Valuation: Not publicly disclosed.
Key Investors
- High Alpha
- Details: High Alpha is a venture capital firm that focuses on investing in early-stage companies. Mike Fitzgerald, a partner at High Alpha, joined Socio's board as part of the investment deal.
- Investment Focus Areas: Early-stage companies, technology, software.
- Notable Investments: Not publicly disclosed.
- Greenspring Associates
- Details: Greenspring Associates is a venture capital firm that invests in various stages of a company's lifecycle, from early to growth stages. They participated in Socio's Series A funding round.
- Investment Focus Areas: Technology, innovative companies, multiple stages.
- Notable Investments: Not publicly disclosed.
What's Next for Socio?
Socio's future looks promising with significant opportunities for growth. The company plans to expand its teams in North America and EMEA, enhancing its event management capabilities with new products like Lead Retrieval and Live Display. This expansion is supported by a successful Series A funding round, indicating strong financial backing.
As the demand for optimized live events and global interactions grows, Socio is well-positioned to capitalize on these trends. The involvement of prominent investors suggests potential for future funding rounds, which could further accelerate their growth and product development.
However, Socio may face challenges such as competition from other event management platforms and the need to keep up with technological advancements. Managing rapid growth and scaling operations effectively will be crucial for their continued success.
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