Welcome Raises $12M to Revolutionize Event Platforms

Following Hopin’s recent $125 million in funding, another company in the virtual event sector is experiencing rapid growth. Welcome, under the leadership of co-founder and CEO Roberto Ortiz, aims to be the premier provider of virtual event experiences, which Ortiz described as the “Ritz-Carlton for virtual events.” The company announced today a $12 million Series A funding round, spearheaded by Kleiner Perkins, and including investments from Y Combinator, Kapor Capital, and Webb Investor Network.

Ortiz explained that the virtual event landscape presents a significant opportunity for growth. He believes the COVID-19 pandemic has accelerated the adoption of virtual events by a decade, bringing advancements anticipated for 2030 into the present day. This widespread shift has compelled organizations to embrace virtual environments.

This evolving environment prompted Ortiz and his co-founders to transition their business focus from connecting restaurants with food suppliers to developing a virtual events platform. While today marks the official launch, Welcome has already successfully facilitated events for several clients, including Brooks Winery, Freely in Hope, and Elevate 2020.

Welcome provides a comprehensive suite of features, including a control room designed for event organizers, breakout rooms for attendee interaction, a dedicated green room for speakers, customizable branding options, networking capabilities, and a live question & answer system. The platform also supports hybrid events, combining both online and in-person components.

Welcome is focused on securing annual contracts with large organizations, typically in the five-figure range, according to Ortiz. While specific pricing details were not disclosed, he indicated that Welcome is positioned as one of the more premium-priced virtual event platforms currently available.

Despite its current focus on the higher end of the market, Ortiz suggests that expanding to serve a broader range of customers would be straightforward—drawing a parallel to Tesla’s initial strategy of targeting the luxury market before introducing more affordable models.

“Kapor Capital sees Welcome as an ideal investment: a technologically advanced solution that bridges gaps and promotes inclusivity, a founder dedicated to mentorship and positive impact, a product designed for beneficial applications, and a founding team committed to diversity and an inclusive workplace,” stated Freada Kapor Klein, Partner at Kapor Capital, in a press release to TechCrunch.

The pandemic has undeniably fueled growth in the virtual events industry. However, Welcome distinguishes itself through its user-friendly setup process and the high caliber of event experiences it delivers.

“A single individual can orchestrate an event that rivals the production quality of an Apple keynote presentation,” Ortiz asserted. “This level of sophistication is achievable on our platform with minimal resources. Other platforms typically require a dedicated audio-visual team to achieve comparable results. Welcome empowers users to scale virtual events without sacrificing quality.”