Events software and services platform Events.com recently secured a capital commitment of $100m (£83m/€94m) in the form of a Share Subscription Facility (SSF) from investment group, GEM Global Yield.
Under the new agreement, Events.com will be able to draw down up to $100m following an equity exchange listing. It is hoped that the SSF will accelerate the company’s growth strategy through acquisitions, partnerships and other organic initiatives.
The funding boost follows Events.com’s acquisition of several companies, including an artificial intelligence (AI) and machine-learning event discovery company, an event sponsorship technology company, and ticketing company Brown Paper Tickets.
The company is set to announce a fourth acquisition in the coming months and still looking to make additional acquisitions.
Mitch Thrower, co-founder and chief executive of Events.com, said: “We are delighted that GEM has committed $100m to Events.com. GEM’s financing is a proven catalyst for the companies who are fortunate to partner with them. In addition to this financing, two major trends are converging in our favour: first, the massive recovery of the event sector as the world gets back together, and second, the continued growth of the experience economy.
“People increasingly value experiences above purchases. We’re here to help people experience the most meaningful moments of their lives with the best technology available.”
Stephen Partridge, president and co-founder of Events.com, added: “We are proud of what we have accomplished, especially during the past few years. During the most challenging times for the event industry, Events.com has supported its clients, protected participants, and has continued to achieve major product enhancements, including the successful integration of several acquisitions.
“This funding from GEM will help further our growth as we prepare to scale and continue to lead the industry forward. The accelerated launch of the Events.com platform and the unfolding of the Events.com story will redefine our sector, for this, we are both grateful and proud.”