Event technology company DoubleDutch has raised $45 million in Series E growth financing, led by global investment firm Kohlberg Kravis Roberts & Co. (KKR) with contributions from existing investors Bessemer Venture Partners, Index Ventures, and others, it announced today. Since its founding in 2011, the company has raised $82.5 million in venture capital.
"We are thrilled to team up with KKR to tackle this next stage of growth," said DoubleDutch CEO Lawrence Coburn. "The $565 billion spent annually on events and conferences -- the biggest marketing spend in the world -- is running blind. We believe that DoubleDutch can help."
DoubleDutch serves corporate events, associations, and trade shows with mobile apps for attendees on the front end, and near real-time event performance analytics for event organizers on the back end. It currently has more than 1,000 customers and more than 260 employees worldwide.
"We are growing well north of 100 percent year over year, and see no signs of things slowing down," said Pankaj Prasad, DoubleDutch's co-founder and global head of sales. "Our product is being adopted all over the world by events of all sizes, and in any industry, in order to measure their success."
To date, DoubleDutch has sold primarily to event organizers and planners. It has plans, however, to begin courting event sponsors and exhibitors, as well.
"As more and more companies look for reliable data to measure the success of their marketing programs, Double Dutch provides the perfect platform to inform their strategy and decisions," said KKR's Ted Oberwager. "We look forward to working with team to help grow the business."Check out the all-new MeetingNews Minute, featuring exclusive research on industry trends!