Oversubscribed three times, Eventifier raises $500k from Accel Partners and Kae Capital
"The company was oversubscribed by three times, we set out to raise $250K," Vijay Anand told me over an email about the latest Eventifier fund raise. Eventifier is tool that helps one create social media archives of events. Founded by Jazeel Badur Ferry, Nazim Zeeshan and Mohammed Saud who graduated in 2010 from Mangalore and moved to Chennai where they were incubated at Vijay Anand's The Startup Centre. The company has gone on to raise $500k from Accel Partners and Kae Capital.
The team came together at in50hrs to build a prototype and the initial idea was to alert users via text message whenever stock rates went up or down. That didn't strike a chord with the mentors and the team went back only to return with an idea which they had for quite some while- collating all information related to an event at one place. This is how the journey for Eventifier began and from there on, there hasn't been any looking back.
There are millions of events happening around the world at various scales and the inspite of being a crowded market, there is room for players to exist and thrive. Eventifier has had a steady growth curve and was recently selected as one of the 7 most interesting social media startups in the Web Summit that happened in Ireland.
In April, the company announced a round from Kae Capital and has managed to get some good traction with more than 2000 events archived out of which more than 100 are paid customers. We've used Eventifier for our flagship event, TechSparks and the product has worked like a charm. Here is a snapshot of the TechSparks 2013 Grand Finale:
The latest round of $500k funding comes from Accel Partners and Kae Capital which will be further used to scale up the team, especially on the sales and marketing front. One of the well built products from India, Eventifier is a startup to have an eye on. They were also the Webspark, a YourStory campaign recognizing web startups.