Events software firm lands further investment
A Lincoln company whose events software platform is used by organisers of international sports competitions has raised £400,000 to support its further growth.
Iventis has secured investment 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. The company, which has been bucking the industry trend, is planning to use the funding to create seven new jobs.
Iventis is the leading platform of its type for large events, exhibitions and festivals. It enables large teams to collaborate online to plan and manage complex operations by bringing together mapping, architectural drawings and other data.
The company, which was founded by Joe Cusdin who had worked on the London 2012 Summer Olympics, says the pandemic has increased demand for its software. Although major events and festivals have been postponed, reorganising them while taking into account social distancing and events teams working from home has highlighted the need for online tools and more detailed planning.
The latest funding round follows a £250,000 investment by MEIF last year.
Iventis non-executive chairman, Keith Greetham, said: “I’m delighted to see Iventis make huge leaps forward in its growth. The company is recruiting talent from within the events industry, which has suffered immensely during the pandemic. We already have high-profile early adopters of the Iventis software, many of which are relying on its capabilities to reschedule and redesign their events.”
Sandy Reid, investment director at Mercia, added: “Iventis is well positioned to help the events industry reorganise events and recover from the impact of the pandemic. The business continues to build relationships with top-level global event organisers and this investment will allow it to expand its team further as client numbers increase.”