Mobile event technology and event performance company DoubleDutch has announced a $45 million (£29m) round of funding as it eyes global expansion and acquisitions.
DoubleDutch, which employs more than 260 people around the world in San Francisco, London, Amsterdam, Hong Kong and Portland, has teamed up with private equity firm KKR, with participation from existing investors Bessemer Venture Partners, Index Ventures and others.
The company, which opened its London office in Marble Arch in April this year, cites global expansion, sales and marketing and targeted acquisitions as the primary use of proceeds.
“We are thrilled to team up with KKR to tackle this next stage of growth,” said DoubleDutch CEO Lawrence Coburn. “The $565 billion (£362bn) spent annually on events and conferences - the biggest marketing spend in the world - is running blind. We believe that DoubleDutch can help.”
DoubleDutch serves corporate events, associations and trade shows, providing mobile applications for attendees and near real-time event performance analytics for event organisers, complete with sentiment analysis and engagement benchmarks.
“It’s an exciting time to be in software,” said DoubleDutch CTO Nicholas Clark. “For the first time, we have the ability to instrument the physical world like we would a website, a phenomenon that has the potential to completely reinvent how events and conferences are run, managed, and measured. Marketers no longer need to run blind when it comes to events.”
To date, the company has sold primarily to event organisers and planners, but has plans to help deliver more return on investment to the event industry’s sponsors and exhibitors, and in the process, unlocking new revenue streams for organisers.