EVA Secures $2 Million in Funding as In-Person Events Make a Comeback
EVA, the platform connecting event bookers with local performers, has successfully raised $2 million in funding amidst a resurgence of in-person events. The Nashville-based startup exceeded its target, valuing the company at $15 million. This funding comes at a crucial time as event organizers are experiencing a surge in attendance at in-person B2B conferences. According to Bizzabo, 86.4% of planners invested more in in-person events in 2023.
With the new capital, EVA plans to expand its services to new markets, starting with New York City in December, followed by Los Angeles. Currently available in seven markets, EVA allows event planners to book a variety of performers for different occasions, from corporate events to weddings. Organizers can input event details and preferences, and EVA's matching algorithm suggests suitable entertainers. The platform also offers a "Teams" hub for collaboration and invoice management.
EVA aims to revolutionize the event industry by providing emerging artists with access to larger events, offering them greater exposure and a reliable source of income. The platform has helped artists collectively earn $6 million over the past four years, with average transaction amounts ranging from $600 to $7,500. Organizers pay a 50% deposit upfront, and entertainers receive the remaining payment at least a week before the event.
Founded in 2015, EVA was created by co-founders with music backgrounds who wanted to ensure artists are paid fairly for their craft. The platform has since gained traction among corporations like Amazon and LinkedIn, who use EVA to connect with entertainers for their events. With over 2,500 entertainers available, EVA has attracted investors such as the founders of Songfinch and Justin Kalifowitz of Downtown Music Holdings.
EVA operates on a 20% platform service fee from organizers on all booked events. The company also provides performance contracts and event insurance for both parties involved. Overall, EVA's innovative platform is reshaping the event-hosting industry while supporting local performers and providing unique entertainment experiences for event attendees.