Banka wants to build a leadership team in the North American market
The market size of the global meetings, incentives, conferences and exhibitions (MICE) industry is currently valued at over a trillion dollars, with growth of about 13% CAGR, according to Vikrant Varshney Co-Founder & Managing Partner of SucSEEDIndovation Fund.
“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,” he elaborated on 26 Dec 2022 as his company joined investors in helping Bengaluru-based Samaaro raised seed funding and venture into North America.
“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 1,000+ Brands on the platform including Salesforce, Huawei, L&T, Google, AWS, Hitachi and Qualcomm etc and we feel excited to back their growth story,” Varshney said.
Samaaro, a B2B event-marketing SaaS platform, has raised seed funding round, led by SucSEEDIndovation 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 – KedarGavane, Shreya Ghorawat and Chaitanya Kalipatnapu.
Mayank Banka, the Founder & President of Samaaro, said, “So far, we have been extremely focused on finding our PMF (Product Market Fit) 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 went on, “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.”
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.
“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,” says Purnank Prakash, the Founder and CEO of Samaaro.
“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,” said Prakash.
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”, he observed. fiinews.com
