Event tech company Glownet has secured £2m Series A from London-based investors Downing Ventures.
Glownet offers live event technology. Through its digital platform, clients can use cashless payments, manage crews, activate social media pages, and access loyalty programmes and customer insights.
The company delivers tech to events such as music festivals, food and beverages festivals, nightclubs, trade shows, sporting events and more.
This investment will help the company grow, and to bring its products to new markets and vertices, as well as increasing its commercial efforts and investing in its core RFID technology.
Off the back of this funding, former COO of the company Siebe Gerbranda has been promoted to CEO. Current CEO Scott Witters says he will now focus on scaling the company.
“Siebe joined us as COO in August. His global tech experience will allow us to maximise the scalability of the business and drive further operational excellence throughout the company,” Witters said.
Siebe Gerbranda also commented on his appointment: “From the moment I joined Glownet last year, it was immediately clear that it has all the right ingredients for fast growth.
“My task is both clear and challenging; enabling our team to drive aggressive expansion, in terms of both product and territory coverage,” Gerbranda added.
Witters feels positive about the company’s growth: “We are delighted to take our business to the next level.
“Our new relationship with Downing Ventures secures our advancement, increases our potential and promises an exciting future for Glownet.”
James Lewis, Investment Director at Downing Ventures, commented on the news: “Scott, Siebe and the team have achieved great things so far in a market that continues to develop and change.
“We look forward to being a part of Glownet’s expansion both technologically and globally and are delighted to be working with them,” he added.