Samaaro raises seed funding from SucSEED, Silver Needle, The Chennai Angels & others!!
Bangalore headquartered Samaaro, a B2B event-marketing SaaS platform that helps brands generate better-qualified leads from events, has raised seed funding round, led by SucSEED Indovation Fund, Silver Needle Ventures Fund, The Chennai Angels, Lead Angels and eminent angel investors. The round also saw a follow-on participation from the existing angels of their last round.
Samaaro is a cloud based virtual event management software provider. It offers features such as attendee hosting, back-stage event meeting room management, meeting scheduler, real-time reports, insights, moderated Q&A, live notifications, and event networking.
With the vision to help brands across the globe drive higher ROI from Events, Samaaro aims to become an integral part of their marketing stack and maximize lead generation for them.
Samaaro offers an intuitive marketing platform for businesses to create brand awareness, generate leads and drive sales when they host or participate in events. Designed for marketing events such as conferences, summits & exhibitions, the platform offers an end-to-end virtual, hybrid & IRL events solution that includes event registrations, conferencing & networking driven by marketing & CRM integrations.
Speaking on the investment round, Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “The market size of the global meetings, incentives, conferences, and exhibitions (MICE) industry is currently valued at over a trillion dollars and growing at a CAGR of about 13%. The rising popularity of online streaming to replace in-person presentations, growing acceptance of remote working and the current buzz of events in the metaverse is gaining a lot of attention. Samaaro has a very unique value proposition to deliver and their approach of leveraging tech and the present global opportunity will surely make it one of the top in the industry. Samaaro has built a strong client base of 1000+ Brands on the platform including Salesforce, Huawei, L&T, Google, AWS, Hitachi and Qualcomm etc and we feel excited to back their growth story.”
Purnank Prakash, the Founder and CEO of Samaaro said, “Event sponsorships drive 80% of the total revenue of the events industry. More than 5 Million businesses participate as sponsors & exhibitors annually in events around the globe. However, generating qualified leads and accurately measuring their ROI remains one of the primary challenges for these event marketers. This is where Samaaro stands out from the competition and unlike traditional virtual or hybrid solutions out there, we focus on maximizing lead generation and thus optimizing the sales funnel for these businesses.”
He further added, “Having launched the operations in June 2020, Samaaro has been leveraged by more than a thousand global brands like Salesforce, Amazon, ASSOCHAM, Queen’s University and Informa Markets. In the last 2 years, Samaaro has hosted 1 million attendees from 150 countries and grown their revenues 300% YoY. With close to 60% of its revenue from international customers, Samaaro is truly a “building in India for the world” startup.”
Mayank Banka, the Founder & President of Samaaro said, “So far, we have been extremely focused on finding our PMF and spent conservatively on marketing. Healthcare and education are the top performing industries for us and we’ve seen strong organic traction, especially from North America.”
He further added, “Next, we intend to build a super suite of hybrid solutions focused on events driven by marketing such as summits, exhibitions, trade shows and product launches. The funds raised will help us build a leadership team with experience in the North American market to further establish Samaaro as a leading brand in the event tech space.”
About SucSEED Indovation Fund — SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with a ₹100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors —
EdTech,
FinTech,
Health-tech,
Security & RegTech,
Gaming, SportsTech, Mediatech & Emerging Tech and
EnterpriseTech SaaS