Bengaluru-based Samaaro, a B2B event-marketing SaaS platform has raised seed funding round, led by SucSEED Indovation Fund with participation from Silver Needle Ventures Fund, The Chennai Angels, Lead Angels, Ankit Mehrotra (Founder, Dineout), Khalid Qazi (VP, Swiggy) and other eminent angel investors.
The round also saw follow-on participation from the existing angels of their last round - Kedar Gavane, Shreya Ghorawat and Chaitanya Kalipatnapu.
With the vision to help brands across the globe drive higher ROI from events, Samaaro aims to become an integral part of their marketing stack and maximize business growth for them.
Samaaro is an event marketing platform that enables B2B marketers and event professionals to maximize their business growth and ROI when hosting or participating in events.
The platform empowers B2B companies who host or participate in events to create an amazing brand experience and generate business opportunities. The comprehensive and unique platform is useful for those who are looking for a technology solution to create a memorable event experience, boost customer engagement, expand the leads funnel, and increase marketing ROI through event marketing.
Purnank Prakash, the Founder and CEO of Samaaro said, “Event sponsorships drive 80% of the total revenue of the events industry. More than 5 Million businesses participate as sponsors & exhibitors annually in events around the globe. However, generating qualified leads and accurately measuring their ROI remains one of the primary challenges for these event marketers. This is where Samaaro stands out from the competition and unlike traditional virtual or hybrid solutions out there, we focus on maximizing lead generation and thus optimizing the sales funnel for these businesses.”
He further added, “Having launched the operations in June 2020, Samaaro has been leveraged by more than a thousand global brands like ASSOCHAM, Queen’s University and Informa Markets. In the last 2 years, Samaaro has hosted 1 million attendees from 150 countries and grown their revenues 300% YoY. With close to 60% of its revenue from international customers, Samaaro is truly a “building in India for the world” startup.”
Mayank Banka, the Founder & President of Samaaro said, “So far, we have been extremely focused on finding our PMF and spent conservatively on marketing. Healthcare and education are the top performing industries for us and we’ve seen strong organic traction, especially from North America.”
He further added, “Next, we intend to build a super suite of event marketing solutions focused on events such as summits, exhibitions, trade shows and product launches. The funds raised will help us build a leadership team with experience in the North American market to further establish Samaaro as a leading brand in the event tech space.”
Speaking on the investment round, Vikrant Varshney Co-Founder & Managing Partner of SucSEED Indovation Fund, said, “The market size of the global meetings, incentives, conferences, and exhibitions (MICE) industry is currently valued at over a trillion dollars and growing at a CAGR of about 13%. The rising popularity of online streaming to replace in-person presentations, growing acceptance of remote working and the current buzz of events in the metaverse is gaining a lot of attention. Samaaro has a very unique value proposition to deliver and their approach of leveraging tech and the present global opportunity will surely make it one of the top in the industry. Samaaro has built a strong client base of 1000+ Brands on the platform including Salesforce, Huawei, L&T, Google, AWS, Hitachi and Qualcomm etc and we feel excited to back their growth story.”
Started in June 2020 by Purnank Prakash & Mayank Banka, Samaaro is an event marketing platform that enables B2B marketers and event professionals to maximize their business growth and ROI when hosting or participating in events. With a team of 25, Samaaro has boarded more than 1000 brands and hosted 1 million attendees from 150 countries. Generating 60% of the revenue from North America & APAC region, Samaaro has a strong foothold in these geographies.
Problem(s) that Samaaro is addressing:
More than 5 million businesses from around the globe participate in conferences, exhibitions, and trade shows annually. These businesses spend a major chunk of their marketing budgets in creating brand awareness, generate leads and drive sales to grow revenues. However, due to the lack of relevant solutions for tracking attendee information, their interests and lead nurturing, most of these businesses struggle to create the necessary impact and event marketing remains one of the hardest channels to crack.
Samaaro is a technology company that provides a robust event marketing platform to B2B marketers and event professionals. The platform empowers B2B companies who host or participate in events to create an amazing brand experience and generate business opportunities. Samaaro’s intuitively designed platform enables brands to amplify their reach through integrated marketing tools. It offers a plethora of networking and engagement features to nurture a community of loyal customers.
Further, the platform helps these brands in lead qualification and converts visitors into prospects, via a state-of-the-art dashboard, to maximize business growth and event ROI. The comprehensive and unique platform is useful for those who are looking for a technology solution to create a memorable brand experience, boost customer engagement, expand the leads funnel, and increase marketing ROI through event marketing.
Alumni of NIT Trichy 2014 batch and with 12 years of friendship, Purnank Prakash & Mayank banka have expertise of more than 8 years in building successful 0 to 1 products for the event-marketing industry. Using novel technologies like AR, VR, IoT etc. they have successfully executed marketing campaigns for Fortune 500 Companies, various government bodies and elite events like IPL.
About the market Potential in this space:
The MICE events industry is currently valued at over a trillion dollars and growing at a CAGR of about 13%. The hybrid events industry that accelerated during the pandemic currently stands at $120 billion and is expected to become a $400B industry by 2027. The North America and APAC market shares 60% of this pie.
Source: Businesswire India