EVA, a platform that connects event bookers with local performers, has secured $2 million in funding as in-person events return in earnest. The round, which the Nashville-based startup says was more than double its target, values EVA at $15 million.
The latest round is timely, as event organizers are seeing a surge in attendance at in-person B2B conferences. According to a survey by event management company Bizzabo, 86.4% of planners invested in more in-person events in 2023.
With the new capital, the company plans to expand its services to Los Angeles, California, starting in early December in New York City and soon after. Currently available in his seven markets: Atlanta, Austin, Dallas, Chicago, Charlotte, Nashville, and New Orleans.
EVA allows event planners to book performers for a variety of events, including corporate functions, private parties, public events, university events, festivals, weddings, and more. By creating an account, hosts will have access to a wide range of entertainers, from Christmas party Santa Claus to motivational speakers, musicians, magicians, and even Swift impersonators.
In addition, planners can create an event by inputting the location, date and time, number of people, budget, duration, necessary equipment and clothing, etc., and performers can also apply. Once event details are posted, EVA's matching algorithm will suggest the best entertainers and event planners can review profiles before booking. The Teams hub allows all members of your team to collaborate on different events, manage invoices, and more.
Image credit: Eva
EVA aims not only to revolutionize the event hosting industry, but also to provide entertainers with access to large-scale events they may not have had the opportunity to attend before. Many of the performers on the platform are new artists who often struggle to make a living from their craft, and are typically hired for small events such as birthday parties or gigs at local bars. Masu. EVA could provide them with additional exposure and could serve as a reliable source of income for local performers.
Tabitha Meeks, a local Nashville singer-songwriter, told TechCrunch: She's a “starving artist,” but she's actually saving money. ”
The company revealed that it has helped artists earn a total of $6 million over the past four years. The company shared that the minimum booking fee for the event is $400, but the average transaction value ranges from $600 to $7,500.
Organizers must pay 50% of the deposit to the Entertainer prior to the event and the Entertainer must collect the remaining half at least one week prior to the start of the event. All performers are required to submit professional videos before being accepted onto the platform.
The company also provides performance contracts and event insurance to both parties.
“We carry comprehensive, general liability and professional liability insurance for entertainers and business clients,” said co-founder Makenzie Stokle. “This was another big hurdle companies faced when trying to book entertainers individually. That was that typically these entertainers didn't have insurance for that $5 million. It's crazy to have to carry that, so we carry it ourselves on behalf of every event we do.”
Image credit: Eva
In 2015, the concept for EVA was born out of a personal setback that co-founders Stokle and Channing Moreland experienced while trying to organize an event while attending Belmont University. We both have music backgrounds and realized that many of our artist friends were being exploited.
“At our core, we felt that artists and creators deserve to be compensated for their work, and that's what started us down this path,” Moreland said. “We started by building an event discovery platform to help promote events. [our college friends]. That's when we started producing and promoting our own events and festivals, and then really understanding the big issues around booking and how it's not transparent or easy. ”
In 2019, we started providing services to corporations. Prominent companies such as Amazon, BMW, Dell, ESPN, and LinkedIn have chosen EVA as their event planning partner, using the platform to connect with entertainers and provide interactive services to enliven their events.
More than 2,500 entertainers are available on the platform.
Investors in the latest round include Songfinch founders John Williamson, Josh Kaplan, Scott Keetun, and Robert Lindquist, as well as Justin Kalifowitz of Downtown Music Holdings; Includes Cascade Seed Fund and Stout Street Capital.
EVA declined to reveal its current revenue run rate. However, it will collect a 20% platform service fee from organizers for all events booked.