TechWeb

etouches Raises $7.75 Million Growth Financing to Support Continued and Rapid Expansion

Aug 21, 2012 (07:08 PM EDT)
URL: http://www.techweb.com/show-press-release/X918997/etouches-raises-7-75-million-growth-financing-to-support-continued-and-rapid-expansion.html

Cloud-Based Event Technology Firm Adds Growth Equity Partner to Further Global Growth

NORWALK, Conn., Aug. 21, 2012 /PRNewswire-iReach/ -- etouches (www.etouches.com), developer of the popular event management software platform used by over 500 growing enterprises, association and event organizers, today announced that it has received $7.75 million in growth capital.  Level Equity, the New York based growth equity firm, led the Series B financing, joining previous investors Greycroft Partners, Cava Capital, and Connecticut Innovations. Ben Levin, Founder and Partner at Level Equity, will join etouches Board of Directors.

(Photo: http://photos.prnewswire.com/prnh/20120821/CG60748)

"We are excited to back Leonora and her team in their continued and rapid expansion. They are true domain experts who have built a best in class software solution in a market that represents one of the largest areas of GDP spend.  We were attracted to etouches consistent growth and capital efficient business model," said Ben Levin.  "Marketers continue to use events as a key customer acquisition and retention strategy and etouches is at the forefront of understanding how events can deliver behavioral data back to organizations to drive better business decisions."

Funds will be used to accelerate capabilities across the entire organization to satisfy increasing demand.  The investment will allow etouches to further develop its global capabilities and serve new markets as well as continue to invest in customer service, training, product development and sales and marketing.  During 2011, etouches expanded its product capabilities, doubled its team and grew its customer base by over 125%. The Company has continued to expand its product and service offerings in 2012 and expects to triple in size by year end.

"It's an exciting time in event technology," explained visionary founder and CEO, Leonora Valvo, "organizations have fully realized the power of the social customer and are focused on capturing as much information about buyers as possible.  Events are a key way to increase a brand's understanding of what the customer likes, wants and needs.  We recognize that events entail a tremendous amount of participant-level data and are working to provide this type of intelligence to our clients through expanded automation and focus on the attendee experience."

etouches is committed to delivering high value, rapid-scaling services to meet the demands of its growing client base.  To achieve this, the company has expanded its cloud model operation and ensured data security by achieving PCI Level 1 compliance.  etouches will continue its commitment to customer service with the further expansion of its global support and product training team.

"Our growth plan focuses on doing what we do best: delivering on-demand software that feels high touch because of our in-depth knowledge of the event industry.  Events demand keen attention to detail combined with an unforgettable attendee experience; we take the same approach to our solution," stated Valvo. "We're thankful that the investment community values our approach, sees the market gap etouches fills and has provided us with the opportunity to further expand."

About etouches

etouches develops an event management software platform and offers supporting services to corporations, non-for-profits, educational institutions and agencies.  The cloud-based software offers a complete set of tools to plan, manage and market their meeting and event portfolio.

The event management platform offers modules that handle every aspect of the event lifecycle, as well as pre-integrated complementary products to extend the capabilities of your event technology ecosystem, built-in tools for custom reporting, data import/export and a full API to make integrations with other software systems as easy as possible. etouches also offers a professional services division that provides pre and onsite event management as well as event website configuration.

With offices in the United States, Sweden, United Kingdom and Australia, etouches is offered direct and through a growing channel of value-added reseller.  Led by visionary and founding CEO, Leonora Valvo, etouches is continuously cited for its innovative software products and entrepreneurial leadership.

Media contact:
Suzanne Carawan
Chief Marketing Officer
scarawan@etouches.com
203.403.9013
www.etouches.com

Media Contact: Suzanne Carawan etouches, 203.403.9013, scarawan@etouches.com

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SOURCE etouches