first round of funding from the RVC Seed Fund, one of Russia’s most prestigious venture funds">
NiceMeeting, a startuo building mobile audience engagement technology for live events based in the San Francisco Bay area with development offices in Russia, has received its first round of funding from the RVC Seed Fund, one of Russia’s most prestigious venture funds.
After two years of being incubated inside of MERA Labs Hi-Tech incubator the NiceMeeting has graduated and has announced receiving an initial seed investment of $1M. The funding will be used to support the launch of game-changing mobile audience engagement solutions designed to help meeting planners, event designers and other event professionals to harness personal mobile technology for easy learning, networking and knowledge sharing during a live presentation.
“The fundamental paradigm shift in the way people interact with information and with each other using their mobile devices will rapidly change the face of the meeting industry. The need for a new approach to engage audience members at live events became inevitable,” says Jim Dvorkin, CEO of NiceMeeting. “We brought together a top-notch team with years of expertise in mobile communication technologies and conference planning to come up with this innovative solution. NiceMeeting is what event planners have always dreamed about.”
“We are very excited about our investment in NiceMeeting,” says Alexey Teleshev, Director of RVC Seed Fund. “Being the 10th largest industry in US, conferences and events have a huge economic impact and we see a great business opportunity by bringing this game changing mobile technology to the market.”
NiceMeeting offers a new way of real time collaborations that gives conference attendees the ability to use their mobile devices as personal conference screens to browse content and interact with presenters and with each other digitally throughout the event. The product also creates consistent paperless experience for event participants providing the functionality of digital document distribution, sharing and making slide notations.
Over the past several months, NiceMeeting demonstrated its product at two major industry trade shows for event planners, one being in Chicago and the other in San Francisco. Additionally NiceMeeting completed several initial customer engagements and received feedback from event planners from a diverse group of organizations as well as association leaders and technology providers.
The company is now entering the execution phase of its go to market strategy in the US and the funding will be used for further product development and bringing this innovative technology to the market.
RVC Seed Fund, Ltd was established on 22nd of October 2009 in furtherance of the RVC Strategy. Seed Fund founding members are RVC (99%) and Foundation for Assistance to Small Innovative Enterprises (1%). The Seed Fund is focused on investing into Russian innovative companies with high growth potential on Russian and foreign technology markets. The Seed Fund activities are assisted by Venture Partners and Initiators, who have access to scientific, material, technical and financial resources which are essential for Venture Partners’ activities. The Seed Fund Investment Policy (strategy) is to invest Seed Fund capital in securities and shares in authorized capitals of seed stage innovative enterprises.