Why we invested in InstantSpace
Infrastructure for Events and Conferences. EGV recently announced the investment in InstantSpace, an online event booking platform for corporate events management. Here is what sparked out interest and convinced us to invest.
Organizing conferences or corporate events has never been an easy task. It usually takes months of preparations to book the venue, the speakers, syncing agendas, hiring suppliers, engaging in marketing & PR.
Once the pandemic struck, the imposed restrictions ended up freezing all activities in the field and leaving the MICE industry (Meetings, Incentives, Conferences, and Events) in full disarray. Planning future events stopped being a priority, with clients canceling everything, tossing months of effort, and asking for refunds.
When all this is over (because it will be over, sooner or later), the industry will need proper tools to reboot and start anew.
InstantSpace is building a technology event booking platform that enables hotels to provide customers with instant booking of rooms, facilities, and services dedicated to events, just as the likes of booking.com or Expedia already do for accommodation.
The task InstantSpace has taken into their hands is not an easy one. It involves building a technological event infrastructure that connects in a single data source all the management systems used by different hotels.
The collected and structured data is then put at work through a marketplace platform, which puts demand and supply in contact.
Corporate events management companies will therefore benefit from an all-in-one event booking platform. Similarly, customers will be able to discover new places to organize their events, while hotels will have access to a much broader base of corporate and non-corporate clients.
At EGV, we are looking to invest in teams addressing big problems and creating solutions that would transform entire industries. We’ve placed a bet on InstantSpace’ innovative solution for event infrastructure and will support their efforts to alleviate the pains of event organizers from everywhere.
They made us believe in the future of corporate event management. Do you have an idea for a brighter future that’s worth believing in too? Let’s talk.