Eventup Raises $1.8M Seed Funding
SANTA MONICA, CA, Online community marketplace for event space listings and bookings, announced today it secured a $1.8 million seed round led by Lightbank.
Eventup (http://www.Eventup.com), an online community marketplace for event space listings and bookings, announced today it secured a $1.8 million seed round lead by Lightbank, the Chicago-based investment vehicle created by Groupon founders Eric Lefkofsky and Brad Keywell. Crosscut Ventures, NEA, New World Ventures and additional angel investors participated in the round that will fuel Eventup's nationwide expansion. The company initially launched out of technology studio Science Inc. with the backing of Michael Jones, former CEO of MySpace.
Since launching two months ago, event space listings have increased 100% month over month, with private and commercial property owners flocking to the site to offer their properties for special event bookings. Today Eventup also announces a formal launch in Chicago, with more than 3,000 event spaces available for booking nationwide.
Eventup boasts the most unique, exciting, one-of-a-kind locations for anyone from wedding planners to moms hosting birthday parties to corporate bookers, allowing them to search and book the perfect space for their party. Some premier event spaces available on the site include the house from HBO's hit show Entourage, Marilyn Monroe and Joe DiMaggio's former San Francisco pad, the world's only floating island, in addition to the hottest art galleries across the country to million dollar villas and vineyards to a castle.
The latest infusion of funding allows Eventup to speed up its nationwide expansion, by adding more event spaces in cities across America. In particular, the company is witnessing growing demand among businesses, large and small, looking to host conferences, corporate events, and other activities. The corporate events booking industry experienced a lull over the past five years as the economy forced many cutbacks, but with signs of fiscal recovery come increased interest in corporate events, particularly in Los Angeles, San Francisco and New York.
Eventup can now leverage Groupon's insight into local businesses to add additional event services, such as caterers, photographers, valet parking, security, bartenders, party supplies, DJ's and everything else that goes into throwing an amazing party.
"With the backing of Lightbank, amongst Crosscut Ventures, NEA, and New World Ventures, we can continue to grow the number of locations so when customers visit the site, they'll find every conceivable experience possible for their event." said Tony Adam, founder and CEO of Eventup. "When we launched we expected inbound interest from consumers and as of late, we've seen revenue growth for things like anniversary parties and birthday parties, but we've been blown away by the increase in bookings on the corporate side. We are becoming the go-to source for events, with the best selection of the most sought-after locations and a comprehensive directory of vendors."
"Eventup is onto something very exciting as evidenced by the tremendous growth in bookings they've experienced in just a few short months. Lightbank seeks to work with companies that are surfacing and fulfilling growing consumer needs, and in this case, Eventup provides a much needed and requested service for venues as consumers and businesses alike renew their interest in hosting events." said Paul Lee from Lightbank.
For more on Eventup, please visit http://www.Eventup.com.
Eventup is the premier marketplace to search and book the most exceptional commercial and privately owned venues. The site enables users to save time and money by searching for and booking exclusive venues on their own, without insider knowledge or hiring an event planner. The company fosters a shared economy ecosystem, giving property owners the ability to make money by offering their venues directly to consumers and event bookers. Eventup manages all financial transactions and offers property owners insurance options to make event planning a smooth and painless process. Eventup is backed by technology studio Science Inc. For more information, please visit http://www.Eventup.com, or follow us on Twitter @Eventupinc.
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