Bevy Acquires Eventtus: Expanding Enterprise Event Platform Capabilities

Eventtus Achieves Successful Exit Through Acquisition by Bevy

The progression of Eventtus, a company I initially encountered several years ago during travels throughout the Middle East, has been truly remarkable. I first connected with them at the Rise-Up Summit in Cairo in 2012.

At that time, the company consisted of two young women who had embraced the principles of Silicon Valley’s startup environment and developed a unique approach to event ticketing.

It is with great pleasure that I report Eventtus has now achieved a well-deserved exit.

Bevy Acquires Eventtus

Bevy, a leading enterprise event platform supporting virtual, hybrid, and in-person events, has acquired Eventtus for an undisclosed amount. Bevy has successfully secured $61.4 million in venture capital funding.

This acquisition will integrate Eventtus’ team of 20 engineers into Bevy, alongside the Egyptian founders, Mai Medhat and Nihal Fares.

Expanding Event Technology Capabilities

The addition of Eventtus will enhance Bevy’s existing event technology suite.

Specifically, it introduces a mobile application designed for in-person conferences, along with various attendee engagement features.

This expansion allows Bevy to provide a more complete and integrated event management solution, catering to the evolving landscape of events – from virtual and hybrid formats to the resurgence of in-person gatherings.

Bevy’s Strategic Vision

Derek Andersen, CEO and co-founder of Bevy, stated: “Organizations are increasingly focused on building connected communities for their customers, employees, and partners.

Events serve as a vital extension of these communities and a key channel for sustaining engagement.

This acquisition will strengthen our position as a leader in enterprise event solutions.”

Overcoming Challenges and Achieving Success

Medhat and Fares demonstrated exceptional resilience in navigating the complexities of the startup world.

They accomplished this while operating from Egypt, during a period of significant political instability, and amidst a global pandemic.

In an interview with TechCrunch, Medhat explained: “We faced competition from companies like Hopin, Attendify, Bizzabo, and Swapcard in the mobile event application market.

However, we distinguished ourselves by delivering a white-labeled experience tailored for event organizers.”

The Rationale Behind the Acquisition

Medhat clarified that Eventtus was acquired due to its robust technology stack and specialized expertise in event technology.

“Derek Andersen and I initially connected several years ago, and Eventtus served as the official event application for Startup Grind and CMX Summit.

Bevy’s focus on empowering businesses to cultivate community aligns with our vision, and this acquisition enables us to reach attendees through their preferred event experiences.”

New Roles for Founders

Following the acquisition, Medhat will assume the role of VP of Innovation.

Fares will be appointed as Director of Product Management.

Pandemic’s Influence and Future Outlook

When asked if the pandemic influenced the exit, Medhat responded: “Not directly.

Globally, we are witnessing substantial innovation and demand within the event technology sector, as evidenced by Bevy’s recent $40 million Series C funding round.

This acquisition represents a convergence of our shared vision to become the leading community event engine worldwide, and we are enthusiastic about our future growth together.”

Positive Impact on the Egyptian Tech Ecosystem

The news of Eventtus’ acquisition is overwhelmingly positive for the Egyptian technology ecosystem.

Eventtus was a prominent rising star within the MENA region’s tech landscape, and its founders are expected to continue advocating for its growth and development.