VenueScanner co-founders Rebecca Kelly and Benjy Meyer
VenueScanner today announced that it has raised £1m to roll out its sharing economy marketplace for booking venues.
VenueScanner aims to become the number one online destination for events globally, changing the landscape of discovering and booking space online, by creating a simple and smart self-service platform for hosts and organisers.
Current investor, Tom Singh, explains: “We’re excited to continue to back the VenueScanner team. They've scaled a unique approach to innovating in the events market, with 18,000 spaces live across 15 UK cities. The range of companies using VenueScanner for finding event space, from Deloitte to Lululemon is testament to the product.
"The tech that they are now creating will be groundbreaking for underutilised real estate and their revenue potential. VenueScanner is a true example of an online business, making real-world businesses work better”.
The funds are being used for VenueScanner to build tools for the events industry, such as dynamic pricing and real-time availability, believed to be an industry first. This is allowing venue hosts to minimise resource costs and control bookings, much in the way that Airbnb currently does for its hosts. The fundraise will also mark the start of an international expansion.
Founded by Rebecca Kelly and Benjy Meyer, VenueScanner has demonstrated strong growth in rental yields and sees the new service playing an important part in supporting struggling venues, including local pubs which are currently closing at a rate of 18 per week.
William Knowles-Mofford, owner of Looking Glass Cocktail Club, said: “I feel like for any business it’s very difficult to get clients through the door, and a company like VenueScanner whose business it is to collect these clients and to deliver these clients to you is very useful from the venue’s point of view. I would say since we started working with VenueScanner, we’ve definitely seen an increase in sales.”
According to Rebecca Kelly, co-founder and CEO of VenueScanner, the growth that the company has achieved is a testament to the work of the team. She said: "I’m very proud of all the team’s hard work. The business we’re driving to venues is growing 30% month on month, we’ve stuck to our e-commerce guts and worked tirelessly on user experience, resulting in us improving our conversion rate 5X."
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