Bevy, the US-based operator of an online event and meeting platform, raised $40m in series C funding from investors including professional network operator LinkedIn.
LinkedIn, which is owned by software provider Microsoft, joined venture capital firm Accel, which led the round, VC firm Upfront Ventures, Ryan Smith – the founder of customer experience software producer Qualtrics – and more than 25 black angel investors.
Founded in 2017, Bevy has built a cloud software platform that enables organisations to host small community events and scale them into larger virtual conferences. The round valued it at $325m and will support the expansion of its workforce from 100 people to 250 by the end of 2021.
The funding came in the wake of a $15m series B round in May 2020 that was also led by Accel and backed by Ryan Smith and Upfront Ventures. They had both taken part in Bevy’s $6.4m series A in 2018 with angel investors Steve Blank, Jared Smith and Aaron Skonnard.
