Hybrid and virtual event software company ViewStub (viewstub.com) closed a 7-figure venture round with Cofounders Capital on August 27th, while existing investors lined up to invest additional funds over the next 90 days.
Investors feel assured by the company’s growth over the past year, but they’re even more excited about future opportunities that will be driven by a growing number of brands leveraging hybrid and virtual events.
These types of events started gaining traction during the lockdowns. But despite predictions by critics, they have continued to grow in popularity long after the lockdowns were lifted. That’s because people want a virtual option, and data shows that adding a virtual component to an event can increase attendance and revenue dramatically.
ViewStub’s founders and investors credit a growing demand for hybrid events, improved hardware and broadband internet, and most importantly, their platform itself, for the company’s success.
The key, say co-founders Spencer Elliott and Patrick VanDusen, is to make the experience seamless and easy for attendees and event producers.
“We knew there wasn’t a platform that managed every part of an event effectively,” explains Elliott, “so we set out to solve that. Judging by the success of our clients, the growth of our own company, and growing interest from outside investors, I’d say we’ve achieved that goal. And we will continue working to improve our platform, both for attendees and event producers alike.”
Tim McLoughlin, a partner with Cofounders Capital, says, “During our diligence, we really started to understand the pain felt by event organizers that were forced to kludge together multiple software solutions to run their event effectively. ViewStub is an end-to-end, turnkey solution for these organizers that will save them significant time and cost, while also adding features to help drive revenue and reach.”
Cofounders Capital is one of the largest and most active early-stage venture funds in the Southeast, headquartered in North Carolina. They are managed by a team of serially successful entrepreneurs including David Gardner, Tim McLoughlin, and Tobi Walter. The firm focuses on B2B software companies that are laser-focused on driving demonstrable ROI to their customers.
VanDusen said the team is excited about the opportunities their relationship with Cofounders Capital is creating.
“This round of funding will give us the ability to make a number of planned additions to our product suite including the launch of a fully customizable app that will provide each event their own fully branded mobile environment,” he explains.
Elliott and VanDusen say the company has been approached by numerous investors, and those calls are becoming more frequent lately, but the team is very selective in the investors they choose to align with.
“We chose to partner with Cofounders Capital for this round of funding, because they were inspired by our team’s vision to build the best product for brands to deliver successful in-person events and global streaming experiences. Our customers already love the product and agree that it is superior to other offerings by legacy players in the market; this round will fuel our sales and marketing efforts to spread the word,” Elliott said.
VanDusen says, “We plan to keep doing what we know works—continuing to improve ViewStub’s already superior platform and expanding into larger events in the entertainment and sports world. We’ve worked with some world-class entertainers and are currently in talks with several more. This round of funding will enable us to make the improvements we’ve planned and develop relationships with the right industry partners so that everyone involved wins.”
ViewStub is dedicated to being a thought leader on leveraging live, hybrid, or virtual events to earn more profit and connect with a larger audience. They host a weekly live show & podcast called EventMasters.
Spencer Elliott and Patrick VanDusen co-founded ViewStub to provide a robust, easy-to-use, and cost-effective platform for event organizers to host hybrid events.
Realizing that other platforms were missing key features and integrations needed to make hybrid events successful, they stepped up to solve the problem with a single end-to-end solution that dramatically increases attendance and revenue.
Today, Spencer Elliott, Patrick VanDusen, and the team at ViewStub continue to improve the platform in order to provide greater capabilities, a simpler interface, and a more cost-effective price point.
ViewStub’s mission is to help people market and host powerful events that generate profit, create awareness, and increase brand loyalty.