Digital expertise firm Touchcast has raised $55 million in Collection A funding, the corporate introduced Wednesday. The cash will likely be used to scale Touchcast’s digital occasions platform, which mixes “AI and blended actuality to ship a digital platform that redefines how information is created and shared throughout house and time,” in accordance with the corporate.
The funding was led by Accenture Ventures, Alexander Capital Ventures, Saatchi Make investments, Ronald Lauder and others.
Touchcast cited a Grand View Analysis report that projected the digital occasion international market would attain greater than $400 billion by 2027, with enterprise funding in infrastructure, companies and know-how driving this progress.
Funders are paying consideration. Along with Bizzabo raising $138 million in December, Airmeet’s $12 million September funding round and Run the World’s $15 million round in May, a number of extra occasion platforms are gaining momentum.
The London-based Hopin digital occasions resolution, based in 2019, has raised $170 million up to now, with $125 million of that coming in a Collection B spherical in November led by IVP and Tiger International. The corporate was valued at an eye-popping $2.1 billion and has grown from eight workers to just about 300 throughout 38 international locations. The corporate acquired the occasion app Topi in December and reside video streaming studio startup StreamYard for $250 million in January.
Welcome—which pivoted quickly after the pandemic hit from an app to attach eating places and meals wholesalers to a digital occasions platform—raised $12 million in Collection A funding in November, led by Kleiner Perkins with participation from Y Combinator, Kapor Capital and Webb Investor Community. Co-founder and CEO Roberto Ortiz positions it as a high-end, white-labeled platform that emphasizes high quality and design first, to simply produce an expertise that feels “like an Apple product launch.” Welcome surpassed seven figures in income three months after launch, in accordance with a spokesperson, and shoppers have included Netflix, Oracle and Okta.
Berlin-based Surprise, based final April as Yotribe, in early December introduced it had raised $11 million in seed funding from European VC EQT Ventures and BlueYard Capital to make video connections “extra spontaneous and fluid.” Purchasers have included NASA, Deloitte and SAP, in accordance with Techcrunch.
Hubilo pivoted from an in-person occasions platform to a digital occasions platform in March and in October raised $4.5 million in a seed spherical, led by Lightspeed. Purchasers have included Roche, Fortune and the United Nations, in accordance with Techcrunch.