iPhone

Mithril leads USD19m financing in DoubleDutch

Tue, 26/08/2014 - 08:39

Mobile event app developer DoubleDutch has closed a USD19 million Series D funding led by Mithril Capital Management.

Previous investors Bessemer Venture Partners, Index Ventures and Bullpen Capital also participated, along with Singapore-based Enspire Capital.
 
Ajay Royan, co-founder and managing general partner of Mithril, joins the DoubleDutch board.
 
"More than three years into our journey, we continue to see signs that the market for data driven event technology is massive, underserved, and ripe for a winner-take-all outcome," says Lawrence Coburn, CEO of DoubleDutch. "In Mithril, we have found a partner that matches our ambition and outlook. Our mutual goal is to build a durable, independent company that redefines the category."
 
DoubleDutch will use the funding to expand its global presence, build out its technical teams to rapidly scale product deployment, and deliver new features to organisers.
 
"Conferences compress 90 days of interactions into 72 hours, but unfortunately few of these connections survive re-entry into daily life," says Royan. "While legacy event companies focus on registration or logistics, DoubleDutch's platform uniquely preserves relationships that foster powerful, sustainable, long-term advantages. They are already working with some of the largest event organizers around the world, and this new investment will allow DoubleDutch to focus on identifying and pursuing enormous new opportunities."
 
DoubleDutch has raised USD37.5 million in funding since its founding in 2011.


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