Live events are making a comeback, and Vendelux’s AI-driven event intelligence platform is at the forefront, guiding event marketers to key individuals at each event. Founded by former Shutterstock executives, Alex Reynolds and Stefan Deeran, Vendelux empowers marketers and CMOs by revealing attendee details for better decision-making on event participation and sponsorship.
Employing artificial intelligence and predictive modeling, Vendelux now offers a wealth of information with 65 million data points covering over 160,000 global events, tradeshows, and conferences. Initially featured in 2022 when it secured $2.4 million in funding, the company has since expanded significantly from analyzing 30,000 events.
In the wake of the virtual surge during the global pandemic, where virtual conference platforms like Hopin gained traction, Vendelux emerged to meet the anticipated resurgence of in-person events. Recognizing the collaborative nature of event marketing, Vendelux positions itself as a coach, guiding companies to maximize return on investment.
Despite the virtual landscape dominating during the pandemic, Reynolds and Deeran remained optimistic about the return of live events. Today, with events surpassing pre-pandemic sizes, Vendelux thrives on the renewed importance of in-person interactions. The company attributes its success partly to challenges in other marketing channels, such as the impact of privacy concerns on performance marketing and the decline of cookies.
Vendelux has observed substantial growth, doubling its customer base and tripling annual recurring revenue in the past year. The free version of its software is utilized by over 5,000 event marketers, with an expanded enterprise customer list, including big names like PayPal, MongoDB, Okta, and T-Mobile. The company has also extended its reach by analyzing data from major conferences and collaborating with event organizers.
Capitalizing on increasing demand from both marketers and organizers, Vendelux has secured a new $14 million Series A investment, led by FirstMark Capital, with participation from Cervin Ventures and founders of major event organizers. With a total funding of $16.4 million, the company plans to double its team by the end of 2024, globally expand its services, and establish a London-based team to cater to enterprises in Europe, the Middle East, and Asia.
Looking ahead, Vendelux aims to enhance its product offerings, further expand its customer base, and facilitate global growth. Reynolds and Deeran envision a comprehensive approach, assisting customers not only in identifying the right events and individuals but also in facilitating subsequent interactions, bookings, and tracking the overall value of this marketing channel.
