Close Menu
TechBrunchTechBrunch
  • Home
  • AI
  • Apps
  • Crypto
  • Security
  • Startups
  • TechCrunch
  • Venture

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Researchers confirm that two journalists have been hacked with Paragon Spyware

June 12, 2025

Meta appeals to AI 'Nudify' App Crush AI to advertise on its platform

June 12, 2025

Apple saves image playground with boost from chatgpt

June 11, 2025
Facebook X (Twitter) Instagram
TechBrunchTechBrunch
  • Home
  • AI

    OpenAI seeks to extend human lifespans with the help of longevity startups

    January 17, 2025

    Farewell to the $200 million woolly mammoth and TikTok

    January 17, 2025

    Nord Security founder launches Nexos.ai to help enterprises move AI projects from pilot to production

    January 17, 2025

    Data proves it remains difficult for startups to raise capital, even though VCs invested $75 billion in the fourth quarter

    January 16, 2025

    Apple suspends AI notification summaries for news after generating false alerts

    January 16, 2025
  • Apps

    Meta appeals to AI 'Nudify' App Crush AI to advertise on its platform

    June 12, 2025

    Apple saves image playground with boost from chatgpt

    June 11, 2025

    All the new features that appear in Apple's iOS app

    June 11, 2025

    At WWDC, Apple says it uses AI to tag apps to improve the discoverability of the App Store

    June 11, 2025

    Snapchat unfolds a new $8.99 lens + subscription layer

    June 11, 2025
  • Crypto

    xNotify Polymarket as partner in the official forecast market

    June 6, 2025

    Circle IPOs are giving hope to more startups waiting to be published to more startups

    June 5, 2025

    GameStop bought $500 million in Bitcoin

    May 28, 2025

    Vote for the session you want to watch in 2025

    May 26, 2025

    Save $900 + 90% from 2 tickets to destroy 2025 in the last 24 hours

    May 25, 2025
  • Security

    Researchers confirm that two journalists have been hacked with Paragon Spyware

    June 12, 2025

    US government vaccine websites have been tainted with content generated by AI

    June 11, 2025

    How to delete 23andMe data

    June 11, 2025

    Whole Foods warns of shortages following cyberattacks on its major distributor UNFI

    June 11, 2025

    23Andme says 15% of customers have been asked to delete genetic data since bankruptcy

    June 11, 2025
  • Startups

    7 days left: Founders and VCs save over $300 on all stage passes

    March 24, 2025

    AI chip startup Furiosaai reportedly rejecting $800 million acquisition offer from Meta

    March 24, 2025

    20 Hottest Open Source Startups of 2024

    March 22, 2025

    Andrill may build a weapons factory in the UK

    March 21, 2025

    Startup Weekly: Wiz bets paid off at M&A Rich Week

    March 21, 2025
  • TechCrunch

    OpenSea takes a long-term view with a focus on UX despite NFT sales remaining low

    February 8, 2024

    AI will save software companies' growth dreams

    February 8, 2024

    B2B and B2C are not about who buys, but how you sell

    February 5, 2024

    It's time for venture capital to break away from fast fashion

    February 3, 2024

    a16z's Chris Dixon believes it's time to focus on blockchain use cases rather than speculation

    February 2, 2024
  • Venture

    Jewel Burks Solomon's Collab Capital has shut down a new $75 million fund

    June 11, 2025

    Vijay Pande, founding partner of A16Z Bio and Health Strategy, is stepping on

    June 10, 2025

    The vast amount of data from the AI ​​storage platform is aiming to value $250 billion in the new round, sources say

    June 10, 2025

    Enterprise AI Startup Glean Lands is valued at $7.2 billion

    June 10, 2025

    The US Navy says “welcome” to the new startup partnership

    June 10, 2025
TechBrunchTechBrunch

Confetti, the team-building platform used by Apple, Google, and Microsoft, raises $16 million

TechBrunchBy TechBrunchMarch 26, 20247 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
Share
Facebook Twitter LinkedIn Pinterest Telegram Email


Not many startups can claim Apple, Google, Microsoft, Amazon, and Meta as paying customers, but Confetti can. And the list extends beyond his five companies with a total market value of $10 trillion. The New York-based company says it works with Zoom, Netflix, Stripe, TikTok, Shopify, Adobe, LinkedIn, HubSpot, and his 30% of Fortune companies. 500.

The total number of companies is approximately 8,000. Not bad for an events and team-building startup, as the pandemic forced much of its target market behind closed doors and forced Confetti to reinvent its business model in a matter of weeks.

Most companies would be happy to see a multi-trillion dollar technology giant on Confetti's client list. That's why it's especially noteworthy that a little-known startup can own so many famous logos.

“These companies use Confetti dozens or even hundreds of times a year for a wide variety of use cases,” CEO and co-founder Lee Rubin told TechCrunch. “These include seasonal events such as Halloween, Black History Month, and holiday parties, as well as goal-based activities such as competitive advantage, communication, and wellness.”

Currently, Confetti claims a revenue run rate of $12 million, which it expects to increase to $15 million to $20 million by the end of the year. And to fuel this growth, the company announced its $16 million Series A round of funding led by Israel's Entrée. Capital and IN Venture.

How to use

Confetti product page example

Example of a Confetti product page.Image credit: Confetti

Businesses use Confetti to provide team-building experiences for remote teams and also support hybrid.

Looking to foster friendships through virtual baking and cocktail making? Confetti has it all covered, from connecting with local suppliers to shipping ingredients directly to your employees. How about interactive games like quizzes, dictionaries, and charades? Again, Confetti organizes it all. All games are designed in-house from ideation to creation.

“The platform handles the entire event execution process,” Rubin says.

However, this was not always the case. Confetti started as a marketplace that connects businesses and event providers. However, it still placed a huge responsibility on the organizers to connect the dots and ensure a memorable event for everyone involved. This is why Confetti has moved to an end-to-end platform that organizes everything from start to finish.

“Marketplaces simply solve the problem of finding an idea and a vendor who might deliver it, but the entire burden of quality assurance and event execution still lies with the customer, who has no need to communicate directly with the vendor. Yes,” Rubin said. “Furthermore, most event providers are not corporate-specific and offer the same content to any group for any purpose. I understand that.”

Rubin also draws an analogy about how one of his customers, Netflix, started as a content aggregator and transitioned into a content producer to have more control over the products it sells.

“[It’s all about] As you build a remote or hybrid work culture, we create content from the ground up in a consistent way across all experiences,” Rubin said.

complexity

Rubin said she was tasked with organizing team-building events at a previous job, but the effort proved more difficult than she had originally imagined.

“At first I thought it would be easy, but I realized it involved so many things: coming up with ideas, looking for vendors online, negotiating with vendors, etc. The team is fun. It all takes hard work to pass the time,” Rubin explained. “So I asked myself: Is there an easier way to create meaningful events that are easy to plan?”

So in 2017, Rubin and her CTO co-founder Eyal Hakim launched Confetti, which aims to take the complexity out of organizing events and experiences for teams. But that was seven years ago for her, which is a long time ago given the world's attitude towards remote work. The pandemic has forced nearly every company to adopt remote work. That meant Rubin and Hakim had to switch things up pretty quickly.

“When we first started, we focused solely on in-person events, helping companies host events in their offices,” Rubin said. “When the pandemic hit, we had to pivot quickly, and after two exhausting weeks, we had a prototype already up and running and ready to sell. I believe this is proof that we need to stay true to ourselves and see challenges as opportunities to grow beyond our original limitations.”

Moreover, this pivot appears to have been a net benefit for Confetti in that it allowed it to tap into a larger market.

“After switching to virtual events, we realized it was much more scalable, allowing us to serve customers around the world without relying on a physical presence,” Rubin said. I am. “In a way, we have made the most of the constraints the pandemic has placed on our business.”

Previously, Confetti had raised approximately $2 million in various seed, angel, and venture rounds from backers including Correlation Ventures, Entrepreneurs Roundtable Accelerator, and Deliver Hero co-founder and CEO Niklas Östberg. With an additional $16 million in the bank, his Confetti is well-funded to, as the company says, “shape the future of remote work culture,” including supporting multi-team companies. It involves building a product around a recurring revenue model.

company account

As Confetti started working with more companies, especially in larger companies, we realized that multiple different people from different teams might be using the Confetti platform. This is a result of the product-led growth strategy the company has adopted since its inception, turning to a dedicated sales team to ensure a more consistent “enterprise” experience and offering a variety of pricing structures and packages. This is part of the reason why we have so much to offer. they come back.

“With thousands of customers now, we find that within each company, many different employees often find us separately and book completely separately,” says Rubin. he said. “To provide even more value to our customers, we decided to create a sales team for the first time. The sales team will sit down with decision makers at these companies and create a company-wide solution for team-building strategies. As a result, we have introduced a new “Corporate Plan”. This provides businesses with many additional benefits and incentives compared to pay-as-you-go plans. ”

Confetti: Corporate account example

Example of a company account.Image credit: Confetti

Currently, a large part of the services provided by Confetti are automation. This is a workflow configured to remove many of the manual steps involved in event planning and team building experiences. For example, once a business provides all the necessary details for a reservation, a host is booked (and paid upon completion), a virtual event room is set up, kits are scheduled for shipment, invitations are sent out, and feedback is provided. is required.

Rubin believes this automation is one of the differentiating factors from other players. However, it's worth noting that competitors like Luna Park, Teambuilding.com, Outback Team Building, and Marco Experiences also have the exact same prestigious clientele as Confetti. This means that organizations are not putting all their team building eggs into this industry. Same basket.

So while there is certainly competition, Confetti is pushing to position this as a stronger proposition for businesses, especially in the enterprise sector. While most of the company's experiences have traditionally been charged per event based on the number of employees, Confetti is aiming for a more sustainable recurring revenue stream.

“We already offer businesses the option to purchase Confetti credits that can be used to purchase experiences on our platform,” Rubin said. “Additionally, we are offering a subscription (with incentives) to Confetti Credits to help planners and businesses seamlessly plan and execute virtual team-building strategies year-round. As you scale, you'll become even more reliant on packages and subscriptions. [sales-led growth] motion. “



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Jewel Burks Solomon's Collab Capital has shut down a new $75 million fund

June 11, 2025

Vijay Pande, founding partner of A16Z Bio and Health Strategy, is stepping on

June 10, 2025

The vast amount of data from the AI ​​storage platform is aiming to value $250 billion in the new round, sources say

June 10, 2025

Enterprise AI Startup Glean Lands is valued at $7.2 billion

June 10, 2025

The US Navy says “welcome” to the new startup partnership

June 10, 2025

Investors are encouraged to fund gender, drugs and other social taboo products

June 9, 2025

Leave A Reply Cancel Reply

Top Reviews
Editors Picks

7 days left: Founders and VCs save over $300 on all stage passes

March 24, 2025

AI chip startup Furiosaai reportedly rejecting $800 million acquisition offer from Meta

March 24, 2025

20 Hottest Open Source Startups of 2024

March 22, 2025

Andrill may build a weapons factory in the UK

March 21, 2025
About Us
About Us

Welcome to Tech Brunch, your go-to destination for cutting-edge insights, news, and analysis in the fields of Artificial Intelligence (AI), Cryptocurrency, Technology, and Startups. At Tech Brunch, we are passionate about exploring the latest trends, innovations, and developments shaping the future of these dynamic industries.

Our Picks

Researchers confirm that two journalists have been hacked with Paragon Spyware

June 12, 2025

Meta appeals to AI 'Nudify' App Crush AI to advertise on its platform

June 12, 2025

Apple saves image playground with boost from chatgpt

June 11, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

© 2025 TechBrunch. Designed by TechBrunch.
  • Home
  • About Tech Brunch
  • Advertise with Tech Brunch
  • Contact us
  • DMCA Notice
  • Privacy Policy
  • Terms of Use

Type above and press Enter to search. Press Esc to cancel.