California-based Run The World, the virtual event platform has bagged an $11 million Series A financing co-led by Andreessen Horowitz and new backer Founders Fund. Notably, Hollywood stars Will Smith’s Dreamers VC and Kevin Hart’s Hartbeat Capital has also participated in the round.
Prior to this round, the company had raised $4 million in seed capital earlier in the year. The current infusion takes the total amount raised by the company to $14.8 million. The other backers of the firm include names like 112West Ventures, Pauld Willard GSR Ventures, and Joel Peterson.
Run The World was founded by Xiaoyin Qu and Xuan Jiang in 2019 as a digital event platform that is designed to host all types of events from cocktail parties to global conferences. It offers plug-and-play templates aimed at various audiences and also offers support in ticketing, registration, networking as well.
Speaking on how the idea helps people create network Xiaoyin Qu said that “You are matched with someone in the room every five minutes. Introverts love it because they don’t have to reach out to each other. Instead of standing around with a drink in your hand–hoping someone approaches you–you are serendipitously matched with someone who might turn out to have the same interests.”
She added the funding will help them grow their engineering team. “By investing in an engineering team, increasing investment in video, and supporting an international angle, we will continue enabling people to create an event, even if they have never done it before, and to engage with other people,” Qu added.
With the ongoing COVID-19 times, something which can make things happen remotely is always exciting. It will be interesting to see how the firm can utilize the funds and become popular.
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