Events Software Startup Swoogo Lures Bain Capital Investment

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Events Software Startup Swoogo Lures Bain Capital Investment
Photo by CHUTTERSNAP on Unsplash

Swoogo, a Century City-based startup that offers event management software, has raised $20 million in fresh funding led by private equity giant Bain Capital, it announced Tuesday.

Founded in 2015, Swoogo provides a corporate event management platform to clients like software company Atlassian, cloud content management firm Box and e-document provider DocuSign. Swoogo said the new funding, which it described as a Series B round, will go toward expanding its platform and developing its hybrid and virtual event services.

Bain’s investment will see David Healey, a vice president at the Boston-based firm, join Swoogo’s board of directors.

Swoogo is led by CEO Christopher Sykes, whose investment firm Eagle Rock Capital acquired a majority ownership stake in the startup in March 2020. On Tuesday, Swoogo said it has “nearly tripled its recurring revenues” in the two years since Sykes’ acquisition.

“As a result of COVID and the industry's rapid pivot to virtual events, we've seen decades of development compressed into months,” Sykes said in a statement. “With Bain Capital's support, we look forward to bringing the same rich insights we've unlocked for virtual events to in-person and hybrid events.”

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