Online-to-offline venue booking platform VenueLook has raised an undisclosed amount of funding in its pre-Series A round from a clutch of angel investors, it said in a statement.
The investors were Srikant Sastri, co-founder of analytics startup Crayon Data; Shailesh Rao, partner at mid-market and growth-equity platform TPG Growth; VP Rajesh, managing partner at private equity firm Banyan Capital Advisors; and Vishal Sampat, founder of digital marketing firm Convonix.
The startup will use the capital to expand operations in Mumbai and 16 other cities, founder Ruchi Garg said in the statement.
“By making the most of technology and analytics, we will provide better value to both our end customers, who want a hassle-free experience while organising their events, and venue owners, who can leverage our algorithm to improve their occupancy levels,” she added.
The platform simplifies the process venue booking for weddings, social and corporate events. Its algorithms match customer needs with options available.
Founded in 2013 by Garg, the platform has a presence across Delhi-NCR and lists 15,000 venues across. She was previously the founder of EventEve.
“Our investment decision was influenced by the robust tech and execution capabilities built by Ruchi and her team which has resulted in a phenomenal growth rate of over 20% month-over-month in the last one year,” said Crayon Data’s Sastri in the statement.
VenueLook competes with a number of startups in the space which offer not only venues but also other services for weddings.
Wow Venue and The Wedding Brigade are some of VenueLook’s peers. It also competes with hospitality firm OYO, which in 2018 entered the segment by acquiring Weddingz.in, an online marketplace for wedding venues and vendors.