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Social Tables Secures $8 MM In Series A Funding
Social Tables Secures $8 MM to Improve and Expand Its Hospitality Product Suite to Its 2,500 Customers and Beyond
Bessemer Venture Partners to Lead Investment with Thayer Ventures, Militello Capital, 500 Startups, Middleland Capital, and Fortify Ventures Joining
(Washington, DC) Social Tables (www.socialtables.com), the web-based hospitality SaaS technology that brings powerful sales and operations tools to thousands of hospitality professionals has secured $8 million in Series A funding to be led by Bessemer Venture Partners (BVP). Leading hospitality venture capital firm, Thayer Ventures will also participate, alongside previous investors Militello Capital, 500 Startups, Middleland Capital, and Fortify Ventures. This funding will bring the total amount Social Tables has raised to $9.6 MM.
The funding was announced at a press conference held at the Carnegie Library in Washington D.C. today alongside the Mayor of Washington, D.C., Vincent Gray. “The hospitality and technology industries in the District of Columbia play a critical role in strengthening the city’s economy and ensuring the District remains a world-class city,” said Mayor Gray. “Social Tables’ creative approach to merging these two vital sectors has been phenomenal, and I congratulate Dan and his team for securing funding that will allow Social Tables to continue to grow and thrive.”
“In just 3 years, thanks in part to private-public partnerships spearheaded by Mayor Gray, we have grown to become a household name in hospitality by focusing on industry thought leadership and, most importantly, our customers and their needs,” Social Tables Founder and CEO Dan Berger explained.
In addition, respected hospitality leaders Greg O’Dell, President & CEO of Events DC, David Adler, CEO & Founder of BizBash, and Karen Kotowski, CEO of the Convention Industry Council, spoke on the hospitality environment in D.C. “Social Tables has transformed the meetings and events industry in Washington, D.C.. The company’s technology has drastically raised the bar, allowing us to better serve our clients and create a premier event experience,” said Gregory A. O’Dell, president & CEO of Events DC. “As the official convention and sports authority for the District, Events DC applauds Social Tables, a Washington, DC home-grown organization on this achievement.”
BizBash CEO David Adler added, “It’s exciting that Social Tables, a company whose platform fosters enhanced collaboration between hospitality professionals, is based in D.C. – a city where conversation and collaboration are crucial tools to finding successful solutions to issues.”
The Social Tables product suite provides a collaborative ecosystem to the hospitality industry. The desktop and mobile product line includes online sales and marketing solutions, 2D and 3D room diagramming, business intelligence for hotels, and event attendee management. With more than 175,000 events planned in the software in the last 2 years, the company continues to see unprecedented growth and adoption.
“Our customers are pioneering a movement to bring collaborative software to the hospitality industry and have played a critical role in helping build the future of Social Tables,” said Chief Marketing Officer Trevor Lynn. “This funding gives us the chance to bring that vision to life for not only our customers, but the industry as a whole.”
“This momentum attracted the leading venture capital firm in SaaS software, Bessemer Venture Partners. We are excited to partner with Alex Ferrara and the Bessemer team to deliver on our mission to inspire face-to-face experiences by empowering those who plan and attend them,” said Berger.
“Dan’s history in the industry affords him a deep understanding of the inefficiencies of event planning. He realized that technology could transform the event planning process and has created an accessible solution based on his first-hand experience of the pain points,” said Alex Ferrara. “Social Tables is a fully functional SaaS and mobile platform that provides the planning and collaboration capabilities to ensure successful events.”
About Social Tables Social Tables, the award-winning provider of hospitality software, delivers the most dynamic diagramming and guest management platform on the market. The industry leading company consistently aids its 2,500 customers in achieving their sales and operational objectives. The company’s diverse list of clientele ranges from hotel chains such as the Hyatt Hotel Corporation to academic special events teams from Harvard Business School to corporate meeting teams such as Genentech.
About Bessemer Venture Partners Bessemer Venture Partners (BVP) invests in early-stage, hyper-growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, Cambridge, New York, Bangalore, Herzliya and Sao Paolo. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like LinkedIn, Yelp, Skype, Cornerstone OnDemand, Pinterest, Box and Twilio. Over 100 BVP companies have gone public.