Socio Expands Event Management Platform, Raises $6 Million In Series A Funding
August 6, 2019
Socio has added two new products to its event management platform and has raised $6 million in Series A funding.
Like the Socio Event App, Socio Lead Retrieval and Socio Live Display focus primarily on the in-event experience. According to Socio officials, these new offerings align with Co-founder and CEO Yarkin Sakucoglu’s vision of Socio becoming “the only software event organizers need throughout the lifecycle of their events.”
“The average B2B company spends around 22 percent of its marketing budget on events,” said Sakucoglu. “When done right, events are the most powerful source of lead generation, brand exposure, and marketing ROI. Knowing how hard it is to execute events right, we want to give organizers a full-stack solution that simplifies their work and maximizes ROI across the entire event lifecycle.”
The infusion of $6 million in Series A Funding will largely support two goals for Socio: help to rapidly grow its teams at its North American headquarters in Indianapolis and its EMEA (Europe, Middle East and Africa) office in Istanbul; and accelerate the development of products designed help event organizers put on successful events and meetings.
High Alpha Capital, a venture studio focused on building next-generation enterprise cloud companies, led the investment round with participation from Greenspring Associates. Mike Fitzgerald, partner at High Alpha, will join Socio’s board.
“Socio is winning business from sophisticated event marketers with tools that are both simple and powerful, which is not an easy combination in B2B software,” Fitzgerald said. “We’ve been incredibly impressed with this team and look forward to partnering with them as they continue building the premier event management platform for marketers.”
In addition to its hiring wave that will triple its headcount by the end of 2020, Socio’s development of several more enterprise-ready products is underway. Next up will be the company’s first pre-event product focused on event registration.
In a little over a year, Socio’s client base has grown to more than 400 customers in nearly 50 countries, with a host of big-name customers including Google, Harvard University and Pinterest along with other major enterprises, associations and universities.
For Pradeep U.N., director of customer and field experiences at Microsoft, using the Socio platform to help run and manage the company’s Services Executive Board meetings throughout the world has been an incredible time, energy and money saver. Instead of relying on custom software and developers, he now automates these content-heavy and security-conscious events to host all content in a central area, make real-time updates as needed, provide strong online security and foster a community where event participants can chat and interact.
“Without Socio, it took me four weeks, a product manager, three developers, and a ridiculous amount of cash and monthly cloud fees,” U.N. said. “I was up with the same thing with Socio in four hours.”
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Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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