Madrid-based meeting planning platform Troop had announced a $11million Series B funding round enabling it to increase its team in the areas of technology, sales and customer service to support its rapid expansion across Europe and the US. It plans to launch it One platform later this year.
The round was led by Durable Capital Partners LP and Madrona Venture Group, with participation from All Iron Ventures and Conexo Ventures
"As companies have employees' work schedules that are increasingly more hybrid or even fully remote, creating meaningful in-person interactions becomes more challenging than ever," said Henry Ellenbogen, Managing Partner, and Chief Investment Officer at Durable Capital Partners LP. "Troop sits at the forefront of the rapidly changing workplace and is well-positioned to capitalise on companies organising in-person meetings in a more remote world."
Troop’s platform oversees all the booking, expenses, and logistics for in-person meetings. TROOP: One will have enhanced planning capabilities and expand into booking, management, and meetings expenses with deep technology integrations into best-in-class service providers including Spotnana, Center and others – it is due to launch later this year.
“We are thrilled to partner with Durable Capital, Madrona, and our other investors as we continue to drive growth and build out our capabilities to serve our valued customers. We have seen the enormous impact of tech-enabled meeting planning as companies react to the ever changing future of work and we are proud to help deliver solutions for them,” said Dennis Vilovic, founder and co-CEO of Troop.
Over the last 15 months Troop’s team has grown from 6 to more than 40 and expects to more than double its staff over the next year.
“The meetings and event planning market has historically been underserved, and the limited tools available required large internal teams to deliver acceptable outcomes. With the pandemic driven acceleration of distributed workforces, the need for an easy to use, complete solution to plan, book, expense and manage meetings and events of any size has increased dramatically. Troop fills that need with a platform that is easy to deploy, can be used by anyone, and that leverages local experts to deliver unique meetings and event experiences,” says Steve Singh, Executive Chairman of Troop, and Managing Director at Madrona.
“It is gratifying to see customers of all sizes and in all geographies benefiting from Troop and I look forward to working with the Troop team to build the global standard for a meetings and events platform,” he adds.