Event software maker Bizzabo raises $27 million in private funding

[April 17, 2019]  JERUSALEM (Reuters) - Bizzabo, a U.S.-Israeli maker of software to manage and personalize professional events, said on Wednesday it raised $27 million in a funding round led by Viola Growth.

The latest round brings Bizzabo's total fundraising to $56 million and will help the company expand its platform and grow its research and development, it said.

New investor Next47, as well as existing investors such as Pilot Growth, which led the company’s previous round, also participated in this round.

Bizzabo said it more than doubled its revenue in the last year and is working with Forbes, Dow Jones, Gainsight, Drift and others. It said its data-powered technology helps companies create, manage and execute professional events.

CEO Eran Ben-Shushan said one-quarter of business-to-business companies' marketing is spent on live events.

(Reporting by Steven Scheer; Editing by Tova Cohen)

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