Tevent raises US$ 2M seed round from Silicon Valley investors to provide a platform for interactive virtual events

The team behind Tevent aims to create dynamic, engaging, and sustainable virtual events to build a sociable and connected future through its interactive platform.

09 March 2022, London, United Kingdom– Tevent, a technology platform for virtual events, has raised US$ 2 million (£ 1.5 Million) throughout its series of seed funding rounds to support its product development. The company secured significant financial backing from leading Silicon Valley investors, including Leslie Stretch CEO at Medallia, Co-Founder of MeshDynamics.io; Rory Cameron EVP at Medallia; Jimmy Duan CCO at Medallia; Shreesha Ramdas, Co-Founder of Strikedeck; and Nathalie Scardino SVP at Salesforce.

The company will use the investment to scale its platform to meet soaring demand and  to double down on product development speed by focusing on serving particular use cases and more niche segments and developing a mobile app and a desktop app. The funding would also allow Tevent to continue to innovate with impressive features such as fun app integrations, multicast, APIs, and automation.

Rising inclination toward virtual events globally and the emergence of live streaming are factors driving the demand for virtual event software. Virtual events have gained popularity majorly since the outbreak of the COVID-19 pandemic. Spurred by lockdowns, organizations have resorted to conducting virtual events. It has also been noticed that 90% of companies still consider hosting virtual events despite permitted live events. In fact, according to Verified Market Research, the Global Virtual Event Platform Market size was valued at USD 9.03 Billion in 2020 and is projected to reach USD 22.75 Billion by 2028, growing at a CAGR of 12.24% from 2021 to 2028.

Ahmed Amer, Co-Founder and Chief Executive Officer (CEO) of Tevent, remarks,

“We are on a mission to make connections engaging, accessible, and sustainable. 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.”

Currently, Tevent is preparing for a Series A round to which the fund will be used to launch Tevent to the broader market as the company envisions increasing growth and marketing efforts in the United Kingdom, the United States, and further down the line across Europe. 

The how and why behind Tevent

Founded in March 2020 by long-time friends Ahmed Amer and Alex Dobson, Tevent was started entirely remotely as an organic response to the untenability of the event landscape amidst the pandemic. It was dreamt up, designed, and even pitched without ever being in the same room. Drawing on their experience, Amer informed purpose, while Dobson made it tangible.

“We all know the environment is impacted by physical events. But if they are irreplaceable, it won’t matter—until it is too late. We are not here to devalue physical occasions; We are more interested in improving remote ones. 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,” Amer shared.

Tevent launched its early access public beta product in late August 2021 and started marketing it in November 2021. Since then, they got short of 1000 sign-ups. In 2022, they generated 675 signs ups and traction started picking up now as they gathered 416 additional sign-ups in February 2022. That is also a 30% Compounded Monthly Growth Rate (CMGR).

Tevent was built for small and medium-sized enterprises (SMEs) that are currently unable to access dedicated virtual event platforms due to price and technical barriers. Entrepreneurs and businesses can host dynamic events and collaborate with ease. They can expose their brand and thought leadership, generate leads,  with super engaging external-facing webinars and talks.

Influencers and creators can also use Tevent for their community engagements and interactive podcast type of content.

Virtual events made easy, engaging, affordable, and fun

Tevent’s goal is to make virtual platforms not just a viable option but an exciting one. It makes engaging virtual gatherings disruptively accessible, frictionless, and fun. 

Using the platform, users can host webinars and build a community around their brand in a few clicks. It is accessible that anyone can set up events with no technical knowledge required– one-click stock assets and frictionless registration. It is also flexible, transparent, and affordable, as all features are included even in their free plan.

It is also designed to bring back the sociability, excitement, and spontaneity that were taken for granted in physical events. Attendees can navigate a living, vibrant space with customisable session formats and stay connected with a fully-fledged social networking layer for group chats, meetings, and more. It has a feature called “Spaces,” a permanent, feature-packed hub to bring a community together. It offers a deeply integrated social media-style networking like Linkedin where you can schedule meetings, add contacts, create group chats and calls on the fly, send GIFS, and much more.

The platform is also super engaging, with a people-first design that gives an unmatched sense of life and spontaneity, making virtual fun and natural, not an awkward chore. It has customisable room layouts enabling a multitude of formats taken for granted with physical events.