Egypt’s Eventtus Secures $2 Million Investment
Founded in 2012 by Mai Medhat and Nihal Fares, Eventtus is an all-in-one platform for events ticketing, event management and apps for events.
The startup creates interactive event apps that allow organisers to engage attendees by enabling them to customise their event schedule through an interactive agenda as well as offering them instant updates through a social media feed and opportunities to network with other attendees.
The investment from Algebra Ventures and 500 Startups will help Eventtus expand into new markets and introduce new products, with the company’s roadmap focusing on developing new platform features for optimising the outcomes of all event stakeholders.
The new funding adds to previous investments made by Middle East Venture Partners, Raed Ventures, Vodafone Ventures and Cairo Angels, and moves the total raised by the startup north of $2.4.
The funding adds another flourish to what is already an eventful story. The company was founded by Mai Medhat and Nihal Fares in 2012 against the backdrop of turmoil in Egypt. Since then their app for ticket sales and audience engagement has been used to help coordinate thousands of events.
Eventtus’ app is designed to be used by event planners and attendees alike for everything from small gatherings to corporate events and large conferences, providing access to networking tools, online registration and ticket sales, agenda planning, analytics and more.
Eventtus charges organizers a fee per event to use their platform, with pricing ranging from $599 to $1,399 or more for further customization. The app is free for event attendees. “Our investment in Eventtus is premised on the technological disruption that is happening globally in the world of events,” said Ziad Mokhtar, managing partner of Algebra Ventures.
“It is also premised on the great product that Eventtus has built and the customers they have managed to attract. The region’s events and conferences industry has grown significantly over the past years with revenues today exceeding US$5 billion. With its deep understanding of the needs of event organisers and event goers, Eventtus is well positioned to play a leading role in transforming this industry.”
Hassan Haider, a partner at 500 Startups, said his company was proud to invest in such a great team.
“We look forward to supporting them as they aim to disrupt the events-related technology space and improve overall conference experience in the region and beyond. With the MENA region becoming a major hub for global launches and events, the opportunity in this space is significant. We look forward to welcoming Eventtus to the global 500 Startups family,” he said.
