Total amount raised
$6.7 Millions
Latest funding date
07/01/2019
Location
Socio has successfully raised funds through a Series A round, attracting investments from notable firms such as High Alpha and Greenspring Associates. The company has been acquired by Cisco, marking a significant milestone in its growth journey.
Keep reading to explore the intricacies of Socio's fundraising journey and the investors backing this innovative platform.
What Is Socio?
Socio, founded on May 19, 2016, is headquartered in Indianapolis, Indiana. The company was established by Alihan Ozbayrak, Joseph Watkins, and Yarkin Sakucoglu. It operates in the events and marketing industry, providing technology solutions for in-person, hybrid, and virtual events.
With a workforce of over 10,001 employees, Socio has made significant strides in the event technology sector. The platform offers a range of features, including registration, check-in and badge printing, mobile event apps, lead retrieval, and virtual event platforms, aiming to enhance event management and success.
How Much Funding Has Socio Raised?
- Series A
- Amount Raised: $725K
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's capabilities and scale its operations.
- 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 support early-stage development and operational costs.
- Series A
- Amount Raised: $6M
- Date: July 2019
- Lead Investors: High Alpha, Greenspring Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow teams in Indianapolis and Istanbul, and accelerate product development.
Total Amount Raised: $6.725M. Current Valuation: Not publicly disclosed.
Key Investors
- High Alpha
- Details: High Alpha is a venture capital firm that led Socio's Series A funding round. Mike Fitzgerald, a partner at High Alpha, joined Socio's board as part of the investment.
- Investment Focus Areas: Early-stage companies, technology, software.
- Notable Investments: Not publicly disclosed.
- Greenspring Associates
- Details: Greenspring Associates is a venture capital firm that participated in Socio's Series A funding round. The firm focuses on investing in venture capital funds and growth-stage companies.
- Investment Focus Areas: Technology, innovation.
- 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 Indianapolis and Istanbul, enhancing its product offerings to improve live event experiences. This expansion is fueled by a $6 million Series A funding round, indicating strong investor confidence.
As the demand for event management platforms grows, Socio is well-positioned to capitalize on this trend. The introduction of new features like Lead Retrieval and Live Display will likely attract more high-profile clients. Future fundraising rounds seem probable, given the successful Series A and the involvement of experienced investors.
However, Socio may face challenges such as competition from other platforms and the need for continuous innovation. Staying ahead in the market will require ongoing development and adaptation to industry trends.
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