Press Clipping
01/11/2019
Article
RainFocus Raises $40 Million for Event Tech: Travel Startup Funding This Week

This week travel startups announced more than $89 million in funding.

>>RainFocus, an event tech company, has raised $40 million in an unspecified “strategic growth” round.

JMI Equity led the investment. This is the first time the Lindon, Utah-based company has raised funding since its 2014 founding.

RainFocus, which employs 140 people, said that its marketing platform offers full event management platform from one cloud-based dashboard. One of its signature clients is Oracle, which has used it to manage customer events.

The event tech sector has been consolidating, though new players always pop up.

>>B Network, the booking and hotel management platform for event organizers, has raised $34.5 million (€30 million).

Ring Capital led the round.

The European company, founded in 2005, provides technology to help large event organizers manage events and distribution relationships with hoteliers. Organizers used its tools to host more than 130 events last year, including MobileWorldCongress, ILTM, and Cannes Lions.

>>Horizn Studios, a smart luggage startup, has raised an $11.5 million (€10 million) Series B financing round.

Investors included Milano Investment Partners, Project A, Ventures Vorwerk, Perpetual, Tarsadia, and Astutia.

The Berlin-based startup, has raised about $29 million (€25 million) in total since its founding in mid-2015.

The brand’s M5 model is a hard-shell suitcase built to fit in overhead carry-on bins, with a removable power bank with ports for up to six devices and sell at starting prices of about $310 (€269).

Bag purchases come with one-month free of access to a travel booking service for flights, hotels, and activities, run by luxury concierge service Quintessentially.