August 18, 2014
Nvite, the Washington, DC-based company that offers an online event ticketing and registration platform, has announced that it has raised a $1 million round of seed financing. The round was led by Paul Singh’s Crystal Tech Fund.
“[Nvite Founder] Martin [Ringlein] and his team know tech, they know their customers, and they know how to build great companies,” said Paul Singh, founder of the Crystal City, Virginia-based Disruption Corporation, which operates the Crystal Tech Fund. “Nvite is on track to disrupt a huge market, and Crystal Tech Fund is a natural partner in that.”
Other participants in nvite’s seed round include several DC-area investment firms/funds, such as Middle Bridge Partners, Middleland Capital, District Capital Partners, NextGen Angels, and CIT Gap Funds. Participation also came from several prominent angels, including Lawrence Black, Haroon Mokhtarzada, Michael Chasen, and Steven and Melissa Ganz. According to the company, this recent financing will be used to make additional hires to their growing team, allow nvite to expand into new markets and verticals, and provide them with additional resources to further develop their current product.
Nvite launched its private beta in February of this year, and has since processed tens of thousands of registrations for events in more than 36 US cities and 16 countries, including various events at this year’s SXSW. The company prides itself on creating the very first attendee-focused event registration and ticketing platform that integrates start-to-finish social event planning functionality. Its reach and popularity have certainly spread, with current nvites ranging from smaller, local Meetup events (like this DC Dribbble Meetup) to larger events like the San Francisco screening of the White House Film Festival. Since launching, the company has grown to a team of seven, and has signed its first enterprise-level multi-million-dollar contract for 2015.
“We’re thrilled to have such support in our team, our vision, and our product from the Washington, DC, tech and investment community,” says Ringlein. “We know that we’re at the very beginning of something special and we’re very much appreciative of all the support at this early and exciting stage in our company!”
Editor’s note: Tech Cocktail CEO Frank Gruber is a venture partner with Crystal Tech Fund, COO Jen Consalvo is an investor in Disruption Corporation, and VP of marketing and community development Justin Thorp is an advisor to Disruption Corporation. Gruber and Consalvo are both members of NextGen Angels.
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