Invajo International Ab
Invajo is a fast growing service for managing event related invitations, bookings and attendees. Invajo has an impressive 600% client growth rate and Invajo is raising growth capital to aim for further user acquisition and international growth.
This is Invajo
Invajo is a fast growing online service and Software as a Service (SaaS) solution for managing event related invitations, bookings and attendees.
Invajo is a fully generic solution aimed to work for any kind of event. What this means is that it is totally up to the user to decide what kind of an event he/she wants to use Invajo for. Our solution has helped people hold conferences, large galas, education related events, seminars, parties, client events, product launches, annual general meetings, networking events etc. Invajo can also help people facilitate smaller private events such as birthday parties or weddings.
Therefore, in the Invajo context, the definition of an event comes with the widest interpretation possible. This enables more use cases for the software and increased value for the Invajo users.
At Invajo we use the following to remind ourselves of the definition of an event: two people is a meeting, three is already an event!
The market of managing events is very fragmented currently. There are countless ways to manage events, from ticketing to attendance all the way to after-event engagement. Many times companies tend to use multiple solutions to manage events, which is not ideal. This can become inefficient and expensive for companies. This can also make the events indistinct and inconsistent for the attendees.
The market for events is big with different kinds of events being held daily all over the world. For example, there are over 1,3 million events held each year in Great Britain alone (BVEP). Because of the size and the fragmentation of event management software market, there is a great opportunity to create something more unique and better than existing solutions.
Fredrik Berglund saw this when he founded Invajo. Fredrik is a digital serial entrepreneur with a passion for finding solutions to well identified problems or significant gaps in a market. He wants to always provide a solution with clear added value and improvements over already existing products for its users/clients.
Managing event related invitations, bookings and attendees fits that challenge very well. There are clear problems and a gigantic market which in turn contribute to a great opportunity. Invajo’s solution targets the masses who need a new better solution for event invitation, booking and attendee management. Invajo aims to be the generic tool with great usability, fantastic metrics and high client growth.
The Invajo solution
Invajo’s solution provides a generic online service that caters for any kind of event. Regardless of the physical size of the event, number of attendees or who inside the company wants to use the tool. The tool is made accessible for all, from the marketing intern all the way to the CEO.
Invajo’s tool has two clear and fundamental purposes in order to be accessible for all:
- Ease of use to minimize pain for the event creator
- Maximizing the event attendee experience to deliver value to both attendees and event creators
Both of these need to be embedded to the DNA of the product. Only this way can Invajo reach the prerequisites for Product Led Growth.
What is meant by Product Led Growth is that the DNA of the service, its functionality and user experience, are the main drivers behind the product use increase. This way the product can reach a level of attractiveness where a user has to have it.
Added value of Invajo’s solution to clients
The added value of using Invajo is clear and usually helps our customers to stick with us:
- Event management is more efficient and saves time
- Our solution cuts costs
- Corporate friendly profiling of the product
- More bookings through the ease-of-use of the solution
- Data and information about attendees
The solution makes it better for both users and attendees – therefore also Invajo.
To build this large scale online service, Invajo needs to add extra focus to some key areas. You can see them all combined as the DNA of Invajo:
- Revenue models supporting the ”easy to buy” model
- Complementary revenue streams (upselling)
- Usability and user experience imprinted to the core of our service
- Native virality (explained below)
- Functionality/features to cover the majority of the need of the market
- Combine inbound and outbound sales
- Multiple product distribution tracks (targeting companies, individuals, and providing a platform/white label product)
- Scalability in terms of technology, business model and user need
- Having fun
A fundamental key for growth is a phenomenon we define as ”The native viral loop”. It’s the hub to reach huge volumes of users. Briefly described, it is how Invajo will in a successful way convert attendees and event administrators to create their first own events either through their respective companies or as private individuals. When succeeding, you are able to create a viral loop where new event attendees become event creators that bring new attendees.
With a proven product, business model and global potential, Invajo is grounded in a clear vision:
- THE GIVEN TOOL FOR EVENT RELATED INVITATIONS, BOOKINGS AND ATTENDEES IN THE WORLD
To be the given one is all about reaching a certain level of size. Where the size as such not only gives competitive advantage, it makes you always an option when a person decides to create their event regardless of the type of event they are creating.
Anyone can use Invajo irrelevant to the size of the client. From the largest to the smallest companies, non profit organizations, public sector and and even individuals for their private events.
With a 600% growth of paying client base since 2017, we would like to state that we have proven the concept, user need and business model. Some of our clients can be seen in the picture below.
Invajo has clients in Sweden, Norway, Finland, England, Germany.
Plan to IPO
Invajo intends to do an IPO on an MTF, pending market conditions, during the first half-year of 2019 in order to continue scaling up the business rapidly. In the IPO Invajo intends to raise more capital at a valuation which is set with a similar method as in this funding round, looking at the Entreprise value/Annual recurring revenue (EV/ARR) multiple. In this material Invajo will not give financial forecasts for the next four years due to the amount of uncertainty related to achieving the forecasts.