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Socio raises $6m in first round funding

Event management platform Socio has raised $6m in Series A funding.

High Alpha Capital led the round with participation from Greenspring Associates.

Mike Fitzgerald, a partner at High Alpha, will also join the company's board.

The funding is primarily to support two goals; firstly to help Socio grow its teams at the company's North American headquarters and EMEA Istanbul office, and secondly to accelerate the development of new products.

“The average B2B company spends around 22 per cent of its marketing budget on events,” said Socio co-founder and CEO, Yarkin Sakucoglu. “When done right, events are the most powerful source of lead generation, brand exposure, and marketing ROI. Knowing how hard it is to execute events right, we want to give organisers a full-stack solution that simplifies their work and maximises ROI across the entire event lifecycle.”

Fitzgerald added: “Socio is winning business from sophisticated event marketers with tools that are both simple and powerful, which is not an easy combination in B2B software. We've been incredibly impressed with this team and look forward to partnering with them as they continue building the premier event management platform for marketers.”

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