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EventBoard Secures $6.5 Million in Series A and Unveils New Workplace Productivity Platform
Analytics Platform Helps Teams Improve How Organizations Meet, Aims to Help Save More Than $37B in Lost Productivity
SILICON SLOPES, UT--(Marketwired - Nov 11, 2015) - More than twenty-twenty-five million take place each day in the U.S., and roughly one-third are unproductive, costing companies an estimated $37 billion. EventBoard, a developer of cloud-based meeting tools and analytics helping companies reclaim meeting productivity, today announced $6.5 million in Series A funding led by Greycroft Partners with participation from Origin Ventures and existing seed round investor Zetta Venture Partners, and unveiled its new platform to deliver the best collaborative experiences, organization-wide.
Time spent in meetings has more than doubled since 1999, and middle managers spend upwards of 35 percent of their day in meetings, while about upper managers spend almost three-quarters of their day in a meeting. With more than 1,100 customers using its platform from industries that include government, finance, education and technology, transformative change is sweeping across businesses that use EventBoard's platform. The Series A brings the company's total funding to $8 million and will fuel its vision to enable companies to understand how they're collaborating and, in turn, provide actionable recommendations on meeting technologies and space utilization.
"Our mission is to dramatically improve how organizations optimize the way their people, places, and technologies come together. People meet everyday and with meetings becoming an increasingly bigger part of employees' working hours, it's important to make them as productive as possible," said Shaun Ritchie, EventBoard co-founder and CEO. "Our recent financing round is a testament to our strategic direction and will help power EventBoard's analytical insights aimed at creating a better means to solve the biggest productivity issues organizations face today."
EventBoard's new platform unveiled today includes innovative features to optimize how meetings are planned and executed:
- Activity-Driven Insights: A clean, clear and easy-to-understand dashboard that provides data about the company's specific meeting behavior and concrete recommendations for improvements. For the first time, companies will have quantifiable data that shows how technology, facilities and employees are engaging in a conference room. Based on the data, EventBoard will be able to offer recommendations to improve the how, where, when and what is needed for a successful meeting.
- Mobile App: The EventBoard mobile app is the first of its kind to provide enhanced capabilities that go beyond just booking remotely. The app provides the availability to find a conference room with the resources needed to make the meeting the most successful, all from your smartphone and in advance of the meeting. Employees can not only schedule a meeting remotely but also search conference rooms by availability, technology and equipment needs, room and party size and more. The mobile app will also alert the appropriate parties of the new booking, assuring that all parties are available and prepared prior to the meeting.
- Floorplan Mapping: Provides an interactive visual of what space is occupied or vacant. Tapping a meeting area brings up the schedule for that room and its technological and physical resource (e.g., number of chairs, video conferencing vs. phone system and white board).
Workspace optimization, employee productivity and workplace efficiency are at the heart of EventBoard's vision and offering, and are top concerns across enterprises of every size. Meeting coordination, room technologies support, and meeting effectiveness have long been obstacles to business productivity. EventBoard's analytics dashboards show how employees are engaging, who and how many people are attending meetings, for how long, how much time and space is needed, what technology is required, and the impact of "ghost meetings" (meetings that are scheduled, but no one attends). As companies grow, EventBoard helps them plan future meeting space requirements based on insights delivered through analyzing company meeting behaviors, therefore creating the best possible outcomes for collaboration and productivity. This creates a holistic view of the impact people and technologies have on space utilization.
"The most important investments companies make are in their people. The best companies enable their people to collaborate effectively through optimizing their work environment and technology, and this is often the difference between great and average companies," said Mark Terbeek, partner at Greycroft Partners. "EventBoard is uniquely positioned to aggregate data and provide insights that fuels today's most productive and efficient companies."
"As a facilities manager, it is absolutely critical to have a data driven system, as it can help you understand how employees are collaborating and provides actionable recommendations on things like meeting technologies and space utilization," said Carlos Perez, facilities manager at Optimizely. "EventBoard's quantifiable data, analytics and reports provide important insights into how employees are utilizing space and offers recommendations to improve the how, where, when and what is needed for a successful meeting. By being able to look into when, how often and by whom rooms are used, I've been able to save the company resources, man hours and most importantly, money."
EventBoard is a cloud-based software and analytics platform for meeting management and analysis that helps companies maximize their workspace and enable their employees to work more efficiently. The platform provides employee-focused meeting tools and activity-driven insights, including eye-catching conference room displays, streamlined visitor management and detailed space use analytics that drive better decisions on space and facilities utilization. To date, the Salt Lake City-based startup has raised $8 million in capital from Google Ventures, Greycroft Partners, Zetta Venture Partners, Origin Ventures, Marc Benioff, Dave Elkington and Josh James, among others. The EventBoard display software is available on Apple iPad™ 2 or newer and easily integrates with many existing calendar systems, including Google Apps, Microsoft Exchange, and Office 365. For more information on EventBoard, visit www.eventboard.io.
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