[ibimage==20877==Original==none==self==ibimage_align-right]
Corporate event marketplace Kapow Events closed a $1.6 million Series A funding round early this week. I2A Fund and Incisent Labs led the round, which built on $700,000 raised in June of this year.
“We decided on these investors because of their support of our business strategy and exceptional guidance at the early stage of the company,” says Michael Timpone, CMO and co-founder of Kapow Events.
Since launching in May 2012, Kapow’s 12-person team has helped over 1,200 client members put on events ranging from cocktail hours to sporting events. They do this by offering companies a prepackaged solution to their entertainment needs. So far, 50 of Chicago’s largest companies have turned to Kapow to plan an event by selecting a planned option which is then customized for their company.
“We're not a traditional event planning company, we're really an online marketplace for online corporate events and corporate event planning at no cost,” Timpone says. “We're actually selling an experience and an event at the venue, not just the venue.”
According to Timpone, Kapow will use the funds from this raise to invest in technology and improve the user experience. They will also add more prepackaged event options for client members and add to their marketing efforts.
Visit Kapow Events’ website, check out their BIC profile, and follow them on Twitter at @kapowchicago.
