WASHINGTON, DC—Social Tables, a SaaS platform that brings cloud-based collaborative event software to hospitality and meeting professionals, has closed a $13-million Series B round led by QuestMark Partners. QuestMark is joined by previous Social Tables investors Bessemer Venture Partners, Thayer Capital, Fortify Ventures and Middleland Capital. The capital will be used primarily to build and support the next generation products the company is launching in 2017.
“Social Tables has successfully brought event planning into the 21st century and the company’s growing customer base represents the large market need,” said Brian Matthews, partner at QuestMark Partners. “We are proud to lead this new round of funding and partner with an exceptional team as they continue growing the business and product to modernize the industry.”
“We are thrilled with the progress at Social Tables and remain very optimistic about the company’s future,” added Chris Hemmeter, managing director, Thayer Ventures. “The group meeting space is very complicated yet remains a fundamental part of hospitality economics. Social Tables products continue to streamline engagement between suppliers and planners, which is not only good for the industry, but is also indicative of the company’s long-term prospects for rapid growth.”
Alex Ferrara, partner, Bessemer Venture Partners, added, “Social Tables is rewiring the way the hospitality industry interacts and collaborates with their clients. They’re one of the few companies that are driving toward a long-term disruptive vision and in the near term are executing on the innovative products that will get them there.”
Social Tables is used by more than 100,000 unique professionals across 4,300 customers, some of which include Hyatt Hotels, House of Blues and Forbes. More than one million events have been planned in Social Tables within the 1.5 billion sq. ft. of event space in the Social Tables network.
“At Social Tables, we want to see a world with more successful meetings and events. We believe technology can get us there. For the past few years, customers have been using our platform to design and execute better meetings. This funding enables us to tackle a broader set of industry challenges that will help us reach our vision faster,” said Founder and CEO Dan Berger.
This funding brings Social Tables to a total of $22.6 million raised since it was founded in 2011.