Hubb Secures $6.3 Million In Series B Funding
Event management technology provider, Hubb, has raised a $6.3 million Series B funding round, which was led by Five Elms Capital and includes follow-on investment from Oregon Venture Fund and Elevate Capital.
This latest round brings the tech startup company’s total funding to $10 million, with Joe Onofrio from Five Elms Capital joining the board as part of this round.
Hubb, which develops event management solutions and business intelligence tools designed to bring innovation and data-driven decision-making to the events industry, boasts key clients including Microsoft, Atlassian, Tableau Software, Biotechnology Innovation Association and the Consumer Technology Association (CES).
“We’re thrilled to partner with Five Elms Capital,” said Allie Magyar, founder and CEO of Hubb. “This new funding will allow us to scale our business while we continue to innovate and push the industry towards data-driven decision- making.”
She added, “There is a great deal of momentum in the event technology space and we’re excited to lead the industry’s use of true SaaS technology for meetings and events.”
With the understanding that collecting, managing and marketing event data can be a time-consuming job with limited information available to make informed decisions, Magyar founded Hubb in 2015 as a solution to the problems she faced as a corporate event manager.
With a scalable solution to manage events of all sizes, Hubb is designed to accommodate the toughest workflows that face event organizers.
In addition, Hubb’s real-world application of machine learning and AI provides data and insights to help event managers make smarter decisions around event content and improve event ROI.
As the single source of truth that powers all of an event’s content, the software acts as an event’s central “Hubb,” Magyar added.
“Allie and the Hubb team continue to improve the way events are run. Hubb has built an intuitive, scalable platform that has proven its ability to drive ROI for customers at many of the largest events in the world. Equally impressive is the team and culture that Allie has fostered. We firmly believe that culture is crucial in scaling a world class software business and we are excited to support Allie in her goal of expanding her team and cementing Hubb as a leader in event management,” said Joe Onofrio, Managing Director at Five Elms Capital, a growth equity firm that invests in fast-growing B2B software businesses.
Building upon innovations such as Hubb Meetings, Hubb plans to use the new capital to better support its customers, further scale its business and develop additional event content and meeting management solutions, along with powerful business intelligence tools. The funding will also be used to hire staff in development, sales, customer support and marketing, according to Hubb officials.
“Hubb is fast-growing startup that represents the future of our region, directly contributing to the growth of the local economy with their innovative ideas and execution,” said Nitin Rai, managing director of Elevate Capital.
He continued, “We are happy to continue to invest in Allie Magyar and her team. Their incredible track record over the past two years in building a great event management technology platform and executing on their vision made it an easy decision for us to further invest in Hubb.”