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Bizabo is improving conference technologies and faced the cancelation of actual conferences due to the Corona outbreak.
16:26 GMT, Wednesday, December 2, 2020
Amid this, thanks to a virtual conference product created within three weeks, the organization was able to raise its valuation four times in a year and a half. Part of the investment was used to acquire holdings of established shareholders.
An investment of $138 million in Bizzabo was led by the American venture capital firm Insight Partners, and the valuation of the company quadrupled within a year and a half – considering the cessation of physical conferences. Half of the sum was used to buy shares from current owners (Scandari), including the company’s staff and investors, and the company declined to say how much capital went into its coffers. Over the decade it has been in operation, a total of $ 195 million was invested in the company.