Venture Funding

Accel Leads $15 Million Series B in Bevy

PALO ALTO — Bevy, which operates a customer platform for enterprises, has announced a $15 million Series B investment led by venture capital firm Accel, with participation from existing investors Ryan Smith (co-founder and CEO, Qualtrics), and Upfront Ventures.

A recent study revealed that nearly 80% of founders reported building a community of users as important to their business. Nearly a third of founders believe community is their moat, critical to their success. Bevy was purpose-built to help companies build, grow and scale their C2C communities. Over the past two years, Bevy has experienced significant growth and is poised to meet these new challenges.

“Following the COVID-19 outbreak, the old way of marketing no longer works. Successful teams need to rethink their strategy and rewrite their playbooks. Online forums, webinars and virtual events can’t replace the social dynamic of Customer-to-Customer interaction. When you want to build or scale your community virtually, Bevy has every part of that experience for you and your customers covered. It’s completely end to end, and no one has anything like this,” said Derek Andersen, co-founder and CEO, Bevy. “It’s not just about hosting virtual events or conferences. Thanks to our virtual event features that tap into powerful analytics, empower your advocates and stay on brand, Bevy helps you build a real community.”

To date, Bevy has  signed dozens of customers using the platform for in-person community building. During these uncertain times, rather than canceling all their events, companies like Asana, Atlassian, Duolingo, Salesforce and Slack rapidly transitioned their community event programs from in-person to virtual, with the help of Bevy’s virtual event features. Over the past two months Bevy customers’ C2C communities have continued to thrive.

  • Salesforce has hosted 650 virtual events with nearly 20,000 attendees
  • Duolingo hosted 1,000 virtual events in 6 weeks
  • Startup Grind migrated from 0 virtual events in January to 600 events in June

“From our experience as early investors in companies that defined the future of work like Atlassian, Slack and Dropbox, we believe that the team behind Bevy has created a platform that is unmatched in building and growing virtual communities and events at scale,” said Ryan Sweeney, partner at Accel.