Virtual events platform Tevent has closed a £1.5m seed funding round from angel investors.
Tevent will use the capital to scale its virtual events software, which is used by SMEs that lack the budget and technical skills to build their own from scratch.
It will also allocate the seed funding towards product development, building a mobile and desktop app, making APIs and other features such as multicast.
Investors included the CEO, EVP and CCO of Medallia, along with the co-founder of Strikedeck and SVP of Salesforce.
“We are not here to devalue physical occasions; we are more interested in improving remote ones,” said Ahmed Amer, co-founder and CEO of Tevent. “Only then can we reap the benefits of sustainability, access, and affordability. Quite rightly, virtual is here to stay. We’re giving you the tools to make it viable.”
Tevent is preparing for a Series A round, which will be used to fund growth and marketing in the UK, US and eventually Europe.
Founded in March 2020 entirely remotely by Amer and Alex Dobson, Tevent was created as a response to the rise in virtual events during the pandemic. The startup is aiming to grab a slice of a global virtual events platform market estimated to be worth $22.75bn by 2028.
“We are on a mission to make connections engaging, accessible, and sustainable,” added Amer. “Tevent gives you the tools to create engaging virtual events that facilitate meaningful interactions and lasting connections. We are working towards making remote a viable alternative and building a sociable, sustainable and connected future.”