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Friday 16 October 2020

Backers keep the faith in event management start-up Iventis

logoWith media reports predicting that live events will not return until 2022 (I am now receiving invitations from the O2 to apply for tickets for Strictly Come Dancing Live in February 2022!), you’d think it is not a good time to be in the event management software business.

But it’s onwards and upwards for Lincoln-based Iventis, which recently secured a further £400k from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund (MEIF), and the government’s Future Fund.

I made the comment when Iventis first raised funding last November (see Lincoln’s Iventis gets funding to boost global ambitions) that the start-up, which was founded in 2015, seems to be as much a consultancy (geospatial & analytics, crowd & transport modelling, strategy development and ‘advanced MS Office’) as a software play. Well, they’ve sensibly revamped their proposition, so the focus is entirely on the platform – good move! But it must be said that Iventis is designed to organise complex events and as such needs a fair bit of hand-holding to get it up and running. Indeed, pricing is bespoke.

Because Iventis is specifically designed to manage physical events, I’d guess it would be overkill for virtual events, where for example, crowd control, security and transport modelling simply aren’t an issue. However, founder Joe Cusdin is putting on a brave face in the PR, claiming that the COVID-19 pandemic has increased demand for the product from organisers having to reschedule their events while taking account of social distancing.

So it’s great that Cusdin’s backers are keeping the faith.

Posted by: Anthony Miller

Tags: funding   startup  

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