Confetti Secures $16 Million Series A with $12 Million Revenue

Confetti, a New York-based events and team-building platform, raised $16 million in a Series A funding round led by Entrée Capital and IN Venture.

The platform, which caters to both remote and hybrid teams, organizes a wide range of activities, from virtual baking classes to interactive games, handling everything from ideation to execution. Initially launched as a marketplace connecting companies with event providers, Confetti has evolved into an end-to-end service that prioritizes the delivery of tailored experiences suited to corporate environments.

This pivot to a more comprehensive service model was partly inspired by the founders' realization during the pandemic that a virtual format could significantly scale their business globally. Confetti's transition to virtual events marked a strategic shift that expanded its market reach and allowed for a more scalable business model.

The startup boasts a customer roster including tech giants like Apple, Google, Microsoft, Amazon, and Meta. They're currently generating a $12 million run-rate, and they project to grow to between $15 and $20 million by year-end.

The latest funding round brings Confetti's total raised to approximately $18 million. Previous round investors include AxessVentures, Genacast Ventures, Correlation Ventures, and Entrepreneurs Roundtable Accelerator.

Founded in 2017 by Lee Rubin and Eyal Hakim, Confetti has over 8,000 companies in its portfolio, including almost a third of Fortune 500s. They plan to introduce a new 'company plan' to offer a more cohesive experience across larger organizations, alongside a focus on automation to streamline the event organization process.