![]() Customers pay between $20K and $1M annually to license Bevy to scale their communities and host virtual conferences. ![]() Bevy has raised $60M to date since the company was founded in 2017. “To see such rapid growth in employee diversity and to prioritize Black ownership in tech companies in this manner is unprecedented,” says visionary management consultant and entrepreneur, James Lowry, “We are creating the blueprint for everyone to follow as we look to create Black wealth and a better tomorrow.”īevy’s $325M valuation is a 4x increase from a year ago when it raised a Series B round of funding, also led by Accel. “This is not only the right thing to do but will also create the most valuable business long term as we build a company that better reflects the communities that we all live in,” says Derek Andersen, CEO and co-founder of Bevy. “With most tech companies reporting low single digit percentages of their workforce being Black and the racial wealth gap only widening, Bevy is taking action by holding themselves accountable towards dramatically increasing diversity of its workforce and cap table,” says Kobie Fuller, General Partner at Upfront and Founder/Chairman of Valence. Bevy is committed to radically reducing the racial inequality that exists in the tech industry and has committed to having Black employees represent 20% of its workforce by September 2021, up from 14% today and 0% last February.įollowing the killing of George Floyd, a drive to improve the racial inequities in the tech sector has been a huge focus in Silicon Valley. This is the second Bevy funding round led by Accel in the past year.ħ0% of individuals participating in the funding round – representing 20% of the total funds raised – are Black investors, including nationally recognized Diversity and Inclusion (D&I) pioneer James Lowry current Facebook board member and EVP at PayPal, Peggy Alford and former Beats by Dre CMO Omar Johnson, alongside many more renowned Black leaders. The collaborative approach enabled 30,000 corporate event planners and enterprise community leaders across its ecosystem to host more than 100,000 events across 120 countries, empowering them to hit their key business growth metrics.PALO ALTO, California–( BUSINESS WIRE)– Bevy, the only enterprise virtual, hybrid, and in-person event community platform, today announced that it has secured $40M in Series C funding from Accel, LinkedIn, Qualtrics co-founder Ryan Smith, Upfront Ventures, and more than 25 top Black leaders. In 2020, the company served as strategic advisors to 125 new and existing enterprise brands as they shifted from in-person communities to virtual and hybrid events. ![]() The company is on track to reach $30M in ARR by the end of 2021, a 15x increase from 2019.īevy powers enterprise event communities for brands such as Google, Snowflake, Facebook, HubSpot, Adobe, Salesforce, Slack, Twitch, Atlassian, Zendesk, Twilio, and others. ![]() Bevy enables enterprise brands to host large virtual conferences and events and scale their global community events through a network of globally connected events. With a completely remote workforce, the company’s team is located in 10 different countries on 4 continents. The Bevy Virtual Community and the Bevy Virtual Conference platform were launched in 2020 to address the needs of both community and event marketing professionals, delivering business results for CMOs, community, field marketing, and corporate event teams looking to rebuild their marketing plans in a post-pandemic world. In 2019, the company acquired CMX, a large community professional organization which offers training, education, and networking opportunities. The company, which has raised $60M to date since it was founded in 2017, intends to use the funds to grow the team from 100 employees to 250 in 2021.įounded in 2017 by Derek Andersen, Joel Fernandes, and Alex Bendig, Bevy was purpose built by the team behind Startup Grind to help companies build, grow, and scale their global customer communities. Bevy, a Palo Alto, California-based enterprise virtual, hybrid, and in-person event community platform, secured $40M in Series C funding, valued at $325m.īackers included Accel, LinkedIn, Qualtrics co-founder Ryan Smith, Upfront Ventures, and more than 25 backers including recognized Diversity and Inclusion (D&I) pioneer James Lowry current Facebook board member and EVP at PayPal, Peggy Alford and former Beats by Dre CMO Omar Johnson.
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