Festivality announces €300 000 Seed investment led by Change Ventures
Investment to accelerate growth in adoption of data-driven technology in the live events consumer market
November 22, 2017 – Tallinn, Estonia
Festivality Ltd., the trusted mobile technology partner for some of the most renowned live events and festivals in Europe, today announced it has raised €300 000 round of financing led by Change Ventures to develop its data-centric technology platform that will advance reshaping of the consumer events industry.
This investment will accelerate growth and allow Festivality to delivery superior service to its clients with its enhanced platform, which has already proven successful with a number of European top live event groups and portfolio companies.
Festivality has focused on the consumer events and festivals mobile technology market and is already the official event apps platform for several customers with visitor numbers between 20,000 and 50,000, including:
• The fast growing city and music festival Tallinn Music Week
• One of Germany´s largest tech festivals Tech Open Air Berlin
• The leading Baltic jazz festivals promoter Jazzkaar.
Other customers include world-class sports, tech and conference events like the biggest Baltic motorsports event – European Championship member rally, leading Nordic tech conferences, and South-East Europe´s major MICE industry trade fair and conferences promoter.
Founder and CEO of Festivality, Aivar Laan says: “2.5 billion smartphones are already in use, and this is changing fans’ habits and expectations at live events. Organizers need to cater for those needs and at the same time unmask their anonymous fans and improve audience insights. In the past 1.5 years, Festivality´s lean team has demonstrated its ability to successfully improve customer experience at events with smarter mobile festival solutions and open up new streams of revenues, actionable data and analytics for organizers.”
“Consumer focused event industry is taking off with mobile and data-centric technologies adoption, the same kind of growth that has already happened with enterprise and b2b events,” notes Yrjö Ojasaar, investment partner at Change Ventures. “Festivality founders have years of experience in the live events industry and a deep understanding how mobile devices, data and technology could enhance experiences for all stakeholders at events. We are very excited to work with the team as they continue to grow and improve the data-driven tech platform that delivers value both for fans and attendees as well as for the whole commercial ecosystem around events – sponsoring brands, artists, merchants, vendors, promoters.”
With this Seed investment, angel investors with notable operational experience also joined the round, including Johannes Jõgi from TransferWise. Change Ventures investment partner Yrjö Ojasaar will join Festivality’s board of directors.
Festivality has earlier raised angel investment and 3 event industry innovation focused EU grants.
Festivality is a platform technology for festivals and events to adopt smarter next-generation mobile apps, gain new revenues and actionable event and fan analytics.
Festivality´s mobile products help eventgoers get more out of events and better user experiences. The platform comes with a suite of mCommerce tools and one-tap mobile payments integrated to deliver value for the wide ecosystem around live events.
Company´s roster of customers includes top European live event groups from music and city festivals to major sports & tech events.
The company has won the festivals category at Pioneers and ViennaContemporary CultTech Hackathon for Wiener Festwochen mobile app solution, and was nominated for German-Baltic Chamber of Commerce „Industrie 4.0“ Innovation award for event industry digitalization. Festivality has been selected to numerous startup competitions as finalist, incl. WEBIT Europe, Arctic15 and Slush Music.
For more information, visit www.festivality.co and follow @festivalityco.
About Change Ventures
Change Ventures is a seed stage venture capital fund based in the Baltic states, backing ambitious Baltic founders anywhere in the world. Change Ventures typically invests up to $500k in technology startups with a preference for B2B and SaaS businesses. A hands-on investor with practical startup operating experience, entrepreneur-friendly terms and a deep network in the US and Western Europe to help with follow-on investments, customer and corporate partner development.
For more information, visit www.changeventures.com.