Eventtus raised additional funds led by Algebra Ventures, Hala Ventures and DAAL VC for an undisclosed amount, to bring a new exciting product to life within the next few weeks.
Founded in 2012 by Mai Medhat and Nihal Fares, Eventtus is an event tech startup that develops mobile event apps, ticketing & registration systems, lead retrieval software and business intelligence reports that empower event planners and organizers to create the most engaging event experience.
Being a constantly evolving company that utilizes innovative approaches to meet the market demands and event organizers' needs, it was no surprise that the Eventtus team were able to quickly react to the COVID-19 outbreak and come up with a fitting solution for its clients and audience.
“During crises, there are companies who blame the market for their own failures and those who use the market’s failure to make their own success. We believe that Eventtus belongs to the latter and thus we decided to invest in them during such a critical crisis.” -- Ali A. Abussaud, founder & managing partner at Hala Ventures.
On-ground events all over the world are either cancelled or postponed; and virtual events and webinars have been taking place across different online platforms such as Facebook Live videos or Zoom conferences. Only a week after the pandemic, Eventtus announced a partnership with the media company, Sawarly, and ingeniously modified their event app so that it supports the digital experience. Then in no time, the company came up with a new concept to create a full-on digital events platform for virtual events (on both web and mobile) where people can check into the event, attend sessions, network together and interact with speakers...all in the comfort of their own home.
"Virtual events are here to stay. The current pandemic is changing human behaviors and how we use technology and do business. New types of events and content will be created, virtual networking is different from face to face socializing and the current video conferencing offering doesn't fit the future of events." -- Mai Medhat, co-founder and CEO at Eventtus
The new product is going to have features that suit events of all sizes, from workshops and corporate events to large summits and hackathons. Eventtus is going to launch the virtual product within weeks, bringing the on-ground event experience onto a virtual platform that suits every event's prerequisites.
“What Eventtus has built over the last few years provides a solid foundation that will allow them to reinvent conferences and exhibitions. The team’s track record of creating innovative
experiences makes us confident they can succeed in that.” -- Ziad Mokhtar, General Partner at Algebra Ventures
Eventtus developed its virtual event app bearing in mind the long term market changes, so that it could introduce an innovative solution that will still be viable once the pandemic is over. The platform will be able to support hybrid events: ones that excitedly merge between on-ground and live; so that organizers and attendees of all backgrounds can have the most engaging event experience.
"We're very lucky to have partners and investors who believe in us and what we do. My team and I are currently working on something that's completely different from what's being featured in the market nowadays. We have taken it upon ourselves to adapt and react to the current situation so that we could continue empowering event planners and everyone who loves events as much as we do." -- Mai Medhat, co-founder and CEO at Eventtus.
You can read more on Mai's statement about the new product.
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Despite the COVID-19 crisis, MENA's startups saw an increase in funding in Q1 2020. Find out more in our Q1 2020 MENA Venture Investment Report which is hot off the digital press.