Capital Will Accelerate Global Growth and Finance Strategic Acquisitions
Norwalk, CT – May 17, 2016 – etouches, a leading global provider of cloud event management software, today announced that it has closed a $20 million round of growth financing led by Argentum, a New York-based private equity firm, with participation of existing investors Level Equity and Connecticut Innovations, and new investors, including Chicago-based First Analysis, Argentum’s long-term partner.
The capital will be used primarily to accelerate the company’s global growth, fund strategic acquisitions, and further enhance the development of etouches’ global technology platform.
“We are gratified that our existing investors continue to support and invest in the growth of etouches and we welcome the support of our new investors,” said Oni Chukwu, CEO of etouches. “This new round of funding will enable us to continue to push forward globally, complete strategic acquisitions that deepens our entry into venue and hotel sourcing and introduce innovative data and ROI products that provide enterprise customers visibility on return on events that they have not previously enjoyed,” added Mr. Chukwu.
In connection with the transaction, Walter Barandiaran, Co-Founder and Managing Partner of Argentum, has joined etouches’ Board of Directors.
“The consolidation currently under way in the cloud event management software industry is narrowing the choices to a select few technology platforms, and the distinction among them, which is based on cutting-edge technology, product innovations, ease-of-use and data and marketing driven ROI, is becoming crystal clear to enterprise customers,” said Walter Barandiaran. “The etouches team has built a powerful technology platform and an innovative portfolio of products that positions the company well and we see a huge opportunity for etouches to capture a substantial portion of this very large and under-penetrated market sector,” added Mr. Barandiaran.
etouches is a leader in cloud event management software. Founded in 2008, the event management technology company has more than 1,000 customers in 35 countries. Covering every major function in the event planning lifecycle, the multi-lingual and multi-currency software has 15 modules for registration, budgeting, surveying, mobile apps and more. etouches is one of the most global event management software companies on the market, with five international offices. Headquartered in the United States in Norwalk, CT, the company has offices in the United Kingdom, Belgium, Australia and Dubai. Learn more at www.etouches.com
Argentum is a New York-based growth equity firm that supports entrepreneurial owners in building industry-leading companies. The firm partners with management teams of companies with revenues of $5 million to $25 million to provide capital to accelerate growth, fund acquisitions or generate shareholder liquidity. Since raising its first fund in 1990, Argentum has invested in nearly 80 companies and supported more than 180 add-on acquisitions in technology, healthcare and other high growth service sectors. Learn more at www.argentumgroup.com