Five Elms Capital Leads Latest Round for Enterprise Event Tech Startup
Hubb, a developer of cutting-edge event management technology, announces that it has raised a $6.3 million Series B funding round. The round was led by Five Elms Capital and includes follow-on investment from Oregon Venture Fund and Elevate Capital. Hubb’s event management solutions and powerful business intelligence tools bring innovation and data-driven decision making to the events industry. The company works with key clients such as Microsoft, Atlassian, Tableau Software, Biotechnology Innovation Association and the Consumer Technology Association (CES). This latest round brings Hubb’s total funding to $10 million. Joe Onofrio from Five Elms Capital joins the board as part of this round.
Collecting, managing and marketing event data is a time-consuming job, with limited information available to make informed decisions. Allie Magyar founded Hubb as a solution to the problems she faced as a seasoned corporate event manager. With a scalable solution to manage events of all sizes, including some of the largest events in the world, Hubb skillfully accommodates 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.”
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“We’re thrilled to partner with Five Elms Capital. This new funding will allow us to scale our business while we continue to innovate and push the industry towards data-driven decision-making. 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,” said Allie Magyar, founder and CEO of Hubb.
Building upon exciting innovations such as Hubb Meetings, Hubb plans to use this 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.
Also Read: New Research from Accenture Gives Companies a Tool to Adopt Digital Technologies for Maximum Impact“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.
“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. “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.”
“We are very impressed with what Allie and the amazing team at Hubb has accomplished so far,” said George DeCarlo, Oregon Venture Fund investor and CEO of Woobox. “They’ve built an enterprise-class event management platform that solves a critical business need for their customers. We’re excited about their plans to scale the organization and continue their phenomenal growth.”
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