SILICON SLOPES, UT--(Marketwired - Aug 17, 2016) - EventBoard, a developer of cloud-based meeting tools and analytics helping companies reclaim meeting productivity, today announced their Series B funding Led by NGP with participation from GE Ventures and existing investors Greycroft Partners, Origin Ventures and Zetta Venture Partners. With thousands of customers including Uber, Twitter, Dropbox, GE, Viacom, National Instruments and more, EventBoard's focus on the smart office technologies that fuel efficiency and productivity will continue through the investments from NGP and GE Ventures who are both focused on building the category with EventBoard as a leading industry force.
The modern workplace looks very different from 30 years ago. There are new workspaces, technologies and management styles that focus on productivity and efficiency. Yet, with over 11 million meetings per day and an estimated $37 billion lost each year to unproductive meetings, meetings remain a constant frustration. With more than 1,800 customers using its tools and data across industries, a shift is happening across businesses that use EventBoard to focus on optimizing people, places, and technology in the workplace. The Series B brings the company's total funding to $20.5 million and will fuel support for the sales and marketing team to drive innovation around improving the office experience with employee-focused apps and deep data driven insights.
EventBoard's unique Insights dashboards show how employees are engaging, who and how many people are attending meetings, for how long, how much time and space is needed, what technology is required, and the impact of "ghost meetings" (meetings that are scheduled, but no one attends and the meeting stays booked). As companies grow, EventBoard helps them plan future meeting space requirements based on insights delivered through analyzing company meeting behaviors and creating the best possible holistic outcome for collaboration and productivity.
"As our platform continues to evolve and shift towards increasing productivity and efficiency with a focus in the enterprise, we're excited to bring on new investors like NGP and GE who share the same vision for the connected and intelligent workplace of the future," said Shaun Ritchie, CEO and co-founder of EventBoard. "Our goal of optimizing people, places, and technology in the workplace through employee tools and data remains constant as we continue to introduce innovative solutions for our thousands of customers across all major industry sectors."
"Eventboard's industry leading workplace productivity solutions align well with NGP's Connected Enterprise vision," said Anupam Rastogi, who leads the Connected Enterprise investment practice at NGP and has joined EventBoard's Board of Directors. "With intelligent controllers, smart software and advanced analytics, Enterprises have significant opportunity to increase workplace productivity and build new revenue streams. EventBoard has the right executive team, customer base, business model and technology to lead the category and drive it forward."
To compliment EventBoard's enterprise offering, the company is also announcing Desk Booking, enabling any organization to designate temporary working areas or unowned desks and allow employees to easily find open desks with the right resources and reserve them for a period of time. As many organizations are moving to an open floorplan with open workspaces, this allows the organization the flexibility to support employees who are only in the office part time or visiting and addresses the increasingly growing global, mobile workforce.
Today's news is on the heels of EventBoard's announcement of the inaugural national Employee Happiness Survey, Google for Work Partner Program status and Android Tablet support.
For more information about EventBoard visit https://eventboard.io/ and look for the company on Twitter, LinkedIn and Facebook.
EventBoard is a cloud-based software and analytics platform for meeting management and analysis that helps companies maximize their workspace and enable their employees to work more efficiently. The platform provides employee-focused meeting tools and activity-driven insights, including eye-catching conference room displays, streamlined visitor management and detailed space use analytics that drive better decisions on space and facilities utilization. To date, the Salt Lake City-based startup has raised over $20 million in capital from NGP, GE, Google Ventures, Greycroft Partners, Zetta Venture Partners, Origin Ventures, Marc Benioff, Dave Elkington and Josh James, among others. The EventBoard display software is available on a variety of Android tablets (requirements apply) as well as Marshmallow and Android Nougat operating systems. The platform integrates with many existing calendar systems, including Google Apps, Microsoft Exchange, and Office 365. For more information on EventBoard, visit www.eventboard.io.
NGP invests in entrepreneurs building intelligent solutions connecting everybody and everything. Providing deep industry expertise and an extensive network, NGP helps entrepreneurs accelerate company growth. With more than $1B under management and offices in the US, Europe, India and China, NGP extends the reach of companies making their products and services local everywhere. Uniquely structured as a private and independent venture firm sponsored only by Nokia, NGP offers the rigor of a financial investor while facilitating strategic engagement with Nokia. NGP has also successfully executed billion dollar exits, including Ganji in 2015, and UCWeb in 2014 and Rocketfuel in 2013. Visit www.nokiagrowthpartners.com for more information.
About GE Ventures
GE Ventures is committed to identifying, scaling and accelerating ideas that will make the world work better. Focused on the areas of software, advanced manufacturing, energy and healthcare, GE Ventures helps entrepreneurs and start-ups succeed by providing access to GE's technical expertise, capital and opportunities for commercialization through GE's global network of business, customers and partners. GE Ventures offers an unparalleled level of resources through its Global Research Center, including: 35,000 engineers; 5,000 research scientists; 8,000 software professionals; as well as 40,000 sales, marketing and development resources in over 100 countries. For more information, please visit geventures.com.