French events platform Livestorm has raised an approx. €25.4 million Series B to accelerate product development and their expansion into North America. The round was led by Aglaé Ventures and Bpifrance Digital Venture, with participation from Raise Ventures and IDInvest. This brings Livestorm’s total amount raised to date to over €29.5 million.
Livestorm was founded in 2016, and is unique as it’s able to run completely in a browser from any device, and can handle 1:1 meetings to large virtual events with more than 1000 attendees. The software includes end-to-end features for planning, promoting, executing, and measuring ROI for video meetings and events. Now more than 3,500 companies of all sizes rely on Livestorm, from startups to Fortune 500 companies.
It’s no surprise that online events platforms have been getting a lot of attention recently. London-based scaleup Hopin has raised two rounds of funding recently, in February and June, and has grown to unicorn status, with UK startup EventsCase also landing €3.8 million for its hybrid online-offline platform just this month. The sphere is exploding with interest from investors, ready to catch the wave as online and hybrid events continue well into 2021 and beyond.
Livestorm has grown our revenue by eight since its last funding round in 2019 and tripled its headcount to more than 50 collaborators. During this time, the United States quickly became its fastest-growing market.
The team states they’ll be using this latest funding round to develop new features and functionalities to support larger companies, and create an ecosystem of integrations entirely dedicated to video communication. In addition, they will rapidly increase their marketing presence and scale our go-to-market strategies toward mid-market and enterprise clients in Europe and the United States, while hiring aggressively globally. Livestorm also plans to once again triple its remote-first team in the next year, hiring 100 additional professionals across Engineering, Sales, Customer Care, Operations, and Marketing teams.