Event marketplace Feast It secures $8.5m and rebrands as Togather
One of Europe’s fastest-growing tech companies, Togather – formerly known as Feast It – has successfully raised $8.5m in its latest fundraising round led by VC firm UNTITLED, with support from Material Ventures, Best Nights VC and Fuel Ventures.
In tandem with the closing of their latest raise, the rebrand marks the firm’s ambition to provide a wider spectrum of services for planners, now standing at the forefront of a £70bn events industry. Emerging from a sector that was arguably the worst hit throughout the pandemic, Togather empowers a broad scope of clients – ranging from corporate event organisers to artisanal food and beverage creators – to respectively book and supply Britain’s most unique and memorable events.
Using algorithmically-driven technology to provide a centralised operating system for consumers and businesses alike, Togather’s investment will be deployed to accelerate the company’s diversification across multiple new event supply types, as well as the geographical territories it works within.
Following the devastating impact of Covid-19 across the private sector, the events industry fell into stagnation for a significant period of time, labelled as one of the hardest hit “unviable” sectors. In the aftermath of the disruption faced by the industry, Togather surged as the sector reopened, tripling its sales in 2022. This translated into over 120,000 events being created on the platform, which saw over 11m people attending a Togather powered event in 2022 alone.
Expanding into a greater number of supply types and territories, Togather seeks to consolidate this year-on-year growth – with projections to double sales yet again in 2023 – serving as an attractive investment proposition in a time when the number of venture capital deals for UK startups has declined by 38.1% year-on-year.
Hugo Campbell, Co-founder of Togather, has commented on the investment raised by Togather and how it will be deployed: “Fundamentally we want to build the best possible product for our incredible community of independent suppliers. Our vision is to create a groundbreaking operating system for our supply partners – a tool that can be central to helping them grow, whilst helping to streamline the tough parts of their day-to-day.
“Beyond that we’re really focusing on growing and developing our supplier community, not just signing them up to the platform. We want to feel like a genuine part of the ecosystem.
“Event suppliers’ lives are far less glamorous than you might imagine, and we want to enable them to concentrate on what they do the best: more of delivering incredible event experiences, and less sweating the small stuff.
“For our customers, we want to deliver the best possible experience from the moment they start to even think about their event. We want to be their trusted little black book, that can help them create any event, any time they need. An always-on, digital event concierge.
“Finally, we’ll be investing heavily in the brand. We want to establish a brand that is both instantly recognisable and the go-to for unforgettable event planning solutions.”
Magnus Rausing, Founder of VC firm UNTITLED, discusses the reasons for investing into Togather: “I have been incredibly impressed by Togather’s growth over what has been an extraordinarily difficult past few years.
“Events remain a crazily untapped area in the tech world, and we can’t wait to be involved in the next part of Togather’s journey. I have no doubt they are going to absolutely revolutionise the industry and let people throw the events they deserve to have.”