Event technology company DoubleDutch has raised $19 million in Series D funding, led by global investment firm Mithril Capital Management, it announced
yesterday. Since its founding in 2011, the company has raised $37.5 million in venture capital.
"More than three years into our journey, we continue to see signs that the market for data-driven event technology is massive, underserved, and ripe for a winner-take-all outcome," DoubleDutch CEO Lawrence Coburn said in a statement. "In Mithril, we have found a partner that matches our ambition and outlook. Our mutual goal is to build a durable, independent company that redefines the category."
DoubleDutch, which provides mobile apps for meetings and events, said it will use its latest infusion of capital to expand its global presence, build out its technical teams to rapidly scale product deployment, and deliver new features to users.
"Conferences compress 90 days of interactions into 72 hours, but unfortunately few of these connections survive re-entry into daily life," said Ajay Royan, co-founder and managing general partner of Mithril. "While legacy event companies focus on registration or logistics, DoubleDutch's platform uniquely preserves relationships that foster powerful, sustainable, long-term advantages. They are already working with some of the largest event organizers around the world, and this new investment will allow DoubleDutch to focus on identifying and pursuing enormous new opportunities."For a recap of last week's top stories, check out MeetingNews Minute: