Bevy, the only enterprise-grade Customer-to-Customer (C2C) platform, today announced a $15MM Series B investment led by the global venture capital firm Accel, with the participation of existing investors Ryan Smith (co-founder and CEO, Qualtrics) and Upfront Ventures.
A recent study found that almost 80% of the founders reported building a community of users as important to their business. Almost a third of the founders believe that the community is their moat, critical to their success. Bevy was designed to help companies build, grow and scale their C2C communities. Over the last two years, Bevy has experienced significant growth and is ready to meet these new challenges.
“After the outbreak of COVID-19, the old way of marketing is no longer working. Successful teams need to rethink their strategies and rewrite their playbooks. Online forums, webinars and virtual events cannot replace the social dynamics of Customer-to-Customer interaction. When you want to build or scale your community to a virtual extent, Bevy has every part of that experience for you and your customers. It’s completely over, and nobody has anything like that,” said Derek Andersen, co-founder and CEO, Bevy. “It isn’t just about hosting virtual events or conferences With our virtual event features that tap into powerful analytics, empower your advocates, and stay on the brand, Bevy helps you build a real community. “That’s right.
To date, Bevy has signed dozens of world-class customers using the in-person community building platform. In these uncertain times, rather than canceling all their events, companies like Asana, Atlassian, Duolingo, Salesforce and Slack quickly switched their community event programs from in-person to virtual, with the help of Bevy’s virtual event features. Over the past two months, Bevy’s C2C communities have continued to thrive.
Salesforce hosted 650 virtual events with nearly 20,000 attendees.
Duolingo hosted 1,000 virtual events in six weeks.
Startup Grind has moved from 0 virtual events in January to 600 events in June.
“From our experience as early investors in companies that have shaped the future of work like Atlassian, Slack and Dropbox, we believe that Bevy’s team has created a platform that is unmatched in building and growing virtual communities and events on a scale,” said Ryan Sweeney, partner at Accel.
“In less than three years, Bevy has built a customer base that would take 10+ years for most other SaaS companies to develop,” said Ryan Smith. “Nobody in the world understands this space better than Bevy. I’m incredibly excited to join Bevy’s Board of Directors as the need for virtual community experience is exploding. “That’s right.
On the Bevy
Bevy was built by a team behind Startup Grind-a global community of entrepreneurs. In 2017, the Bevy platform was made available as a commercial SaaS product for brands looking to build, grow and scale their own Customer-to-Customer (C2C) marketing services. Today, Bevy is empowering global Community initiatives for B2B, B2C, Education and other business categories for teams that want to build a global community of Customer Advocates.
In 2019, Bevy acquired CMX, the world’s largest professional organization, with a mission to help community professionals thrive. In addition to hosting an annual conference, CMX operates local chapters in nearly 30 countries. CMX offers training, education and networking opportunities for organizations and individuals to take advantage of the power of the community.
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