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Venture Capital News: Eved Grabs $14.3M

2015-12-22
CHICAGO, IL, Eved, a provider of event management software, has raised $14.3 million in new VC funding.
According to the Chicago Tribune, the company, which began in 2010 by CEO Talia Mashiach, offers a technology platform that automates buying and selling for events held by clients such as Dell and Eli Lilly.

Event planners can source, hire, receive invoices and pay suppliers using the Eved platform, baking together information and communications typically organized in spreadsheets or emails, Mashiach said.

'All that back-end work, which is really tedious, takes away from your ability to create a great event experience,' Mashiach said.

Eved will use the new funding to increase hiring and resources for client services. The company had 'recent client wins' but declined to name them, and has other Fortune 500 companies in the pipeline, Mashiach said.

'We've gotten a lot of traction with Fortune 500 companies,' she said. 'Companies have recognized that (events) is such a significant spend area.'

The company employs 60, with 15 in Chicago and others in an office in Romania. Mashiach said she hopes to grow the team to 85 in 2016.

The funding round was led by Oak Brook-based Huizenga Capital Management and included investments from Chicago-based Pritzker Group Venture Capital, Merrick Ventures and MK Capital.
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