EVENTPIPE ANNOUNCES PLANS TO EXPAND PLATFORM AND ACCELERATE GROWTH

APPOINTS TIM BROWN AS CEO FOLLOWING CLOSE OF SEED FINANCING

PORTSMOUTH, N.H., Aug. 8, 2022 /PRNewswire/ -- EventPipe, a provider of a cloud-based, event housing management software, raised $2.2 million in an initial seed round of funding led by Velocior Ventures. The company intends to use the funds to add to its team, accelerate adoption of its platform and continue to build functionality that adds value for customers.

Founded in 2020, EventPipe has emerged as a leader in the event housing management space. Following its successful private beta, EventPipe formally launched its product at the Connect Conference in 2021 and has quickly found traction and adoption of its platform. To date, EventPipe has seen over 1.6 million room nights booked through its platform totaling over $250 million in bookings.

Commensurate with the funding, EventPipe announced that Tim Brown has been appointed as Chief Executive Officer and member of the Board. Brown has dedicated his career to investing in and working with technology and growth companies in senior operational and financial leadership roles.

Co-founder and interim CEO, Serena Higdon shared, "When we created EventPipe, the founding members wanted to create a product that would change the way hotel inventory management for events worked. Having been in this space for decades, we knew how time-consuming and tedious it was to manage hotel rooms for events, and we knew there was a real need in the market for a better solution."

Higdon added "It was an honor to serve as interim CEO for a company that I know has already changed the direction and fabric of this industry for the better of all users. I look forward to seeing what EventPipe will do now having these very experienced investors, and strategic management team. It seems like EventPipe's growth potential is boundless!  Now that EventPipe is in amazing hands, I am looking forward to spending more time with my friends and family as well as being involved in the strategy of my other company, Team Travel Source. We look forward to our continued partnership with Eventpipe as a customer and partner."

Co-founder and Chief Technical Officer Mike Addesa also added, "Our team already had a unique combination of deep technical expertise and an impressive breadth of event housing experience. We're fortunate to be adding such a seasoned software executive to this team. I've seen the results of Tim's leadership capabilities before, and I look forward to partnering with him to accelerate EventPipe's growth."

"I am truly excited to be working with several members of this team again, and to lead the EventPipe team at this inflection point in the company's growth," stated Brown. "Event producers, convention and visitor bureaus and event housing companies rely on EventPipe for solutions that streamline their daily workflow and enhance their opportunity to increase revenue. Our mission is to build EventPipe into the leader in event housing management software."

Prior to EventPipe, Brown served as the head of corporate development at Motus and previously as the company's CFO. Brown joined Motus after serving as the Chief Financial Officer of ConnectEDU (CDU). Prior to CDU, Brown led the corporate development/M&A function at EducationDynamics. Brown began his career in investment banking and private equity after graduating from the University of Pennsylvania's Wharton School of Business.

About EventPipe
EventPipe is a cloud software company that provides a modern approach to event housing management for event producers, housing companies, meeting planners and convention and visitor bureaus (CVBs). EventPipe is a comprehensive solution that covers the full event housing lifecycle. Users are able to complete everything from creating RFPs, to managing hotel contracts, building customized booking sites, managing inventory and reconciling their events.

About Velocior Ventures
Velocior Ventures is a private investment firm that invests in innovative SaaS and Fintech companies across various phases of growth, including seed, venture and late-stage. Its seasoned team possesses decades of investment and operating experience and takes a hands-on approach in helping its portfolio companies succeed.

Contacts
EventPipe
[email protected]

SOURCE EventPipe