Easol, a London-based experience commerce platform, has raised $25m (£19m) funding in a Series A round led by Tiger Global.
Other investors included Notion Capital, Foundation Capital, Y Combinator, and FMZ Ventures. The funding announcement comes ten months after securing $4.5m (£3.4m) in seed funding in March. To date, the company has secured $29.5m (£22.3m) in total.
The company said it will use the funds to expand its team across its London headquarters, Lisbon office and US offices. It will “invest heavily” in product development to add more tools to the platform, which provides a suite of software tools to help experience and events businesses set up an online presence, manage sales, run operations and own their own data.
Founded by Ben Simpson and Lisa Simpson in 2017, Easol’s platform is used to manage experience businesses across sectors including festivals, wellness retreats, food and drink, sports, and adventure trips. In the same way that Shopify provides tools to online retailers, Easol aims to provide an “all-in-one” platform for events and experience companies.
The founders are also known for one of Europe’s biggest snowsports and music festivals, Rise, and expedition company Beyond Adventures.
Since the seed funding, Easol says it’s grown the number of creators – organisers – tenfold, with the customer base up by 913%. The company also said that its transaction numbers are up 50x, and spending on the platform is up by 30x.
It has set ambitious targets to treble its growth in 2022.
Currently, the company’s software is used across 130 countries and serves customers that include Wanderlust, Ibiza Rocks, Global Cycle Network, Untravelled Paths, and Envision Festival.
“Lisa and I set out to build Easol in 2017 after years of frustration when running our own experiences. We were faced with hacking together so many third-party tools whilst trying to successfully operate and grow our business and so we designed Easol as the dream all-in-one platform we would have wanted for our own experience business,” said Ben Simpson, co-founder, and CEO of Easol. “It’s been a tough two years, however, very inspiring to watch our incredible team pull together in extreme circumstances to support our creators through the hardest time of their businesses to come out of this stronger than ever.”
Evan Feinberg from Tiger Global said: “Easol’s market-leading platform and industry expertise allows clients to imagine and market unique experiences for consumers. In the rapidly expanding experience commerce market, we believe Easol is poised to capture outsized growth, and we are excited to partner with Ben, Lisa, and the Easol team.”