The all-in-one platform for virtual and hybrid events, Zuddl announced that it has closed a $ 13.35 million Series A funding, led by Alpha Wave Incubation (AWI), which is supported by DisruptAD, the ADQ’s venture capital platform, and managed by Falcon Edge Capital and Qualcomm Ventures LLC. The cycle also saw the participation of existing investors GrowX and Waveform Ventures.
The funds raised will be used to accelerate the development and expansion of products on a global scale, with a particular focus on the US market.
Born during the pandemic, Zuddl was founded by Bharath Varma and Vedha Sayyaparaju in May 2020. The current funding round will be used for geographic expansion, deepen its technical team and further develop its offering. Zuddl has grown over 30 times since its inception and today counts Fortune 100 clients and other fast growing companies such as Kellogg’s, Microsoft, Dicks Sporting Goods, BYJU’S, Grant Thornton and NASSCOM among others.
“Zuddl’s growth can be attributed to businesses’ need for increased customization and control for their virtual and hybrid events. Most of our customers are global companies with remote teams, who have complex use cases that we help solve easily, while staying true to the brand, ”said Bharath Varma, CEO and co-founder of Zuddl.
The virtual events market space is expected to grow by around 24% CAGR over the next several years, according to research firm Grand View Research. According to LinkedIn research, event marketers predict that over 65% of events in the near future will be virtual or hybrid.
“After being forced to take the virtual events route during the pandemic, companies are now discovering the benefits of hybrid events. Zuddl, through its hybrid-first model, tackles a unique set of challenges for corporate events – that of bringing personalization, control and engagement to virtual and hybrid events, without complicating the task of event organizers. events. What works to Zuddl’s advantage is the fact that they come from the event industry and understand the realities on the ground too well, ”said Anirudh Singh, CEO of Alpha Wave Incubation.
“Zuddl’s platform for hybrid events helps businesses easily customize and manage events with greater engagement,” said Varsha Tagare, senior director, Qualcomm Technologies, Inc. and general manager, Qualcomm Ventures.
“We were enthusiastic about the vision, solid expertise and speed of execution of the founding team of Zuddl. Bharat and Vedha form a well-rounded and exceptionally talented founding team. Their in-depth understanding of the needs of event planners, speakers, sponsors and above all participants, coupled with their initial product thinking, made Zuddl’s offerings stand out in a very crowded space, ”added Manu Rikhye, partner of GrowX Venture.