iVvy declares $5.4M pre-IPO to fast-track growth in foreign markets

By Hope Hill |

Cloud-centric venue management platform iVvy, has reportedly managed to come up with a whopping AUD 7 million (USD 5.4 million) in a pre-IPO investment round. The firm seems to have targeted this amount in a bid to accelerate its growth across Europe and the U.S., in terms of sales and catering software production.

iVvy's step for accelerating its growth conveniently comes at a time characteristic of massive change in the hospitality and event management sectors that are focused on finding intuitive ways of progressing in a post-pandemic world. For the unversed, prior to the second quarter of 2022, iVvy also plans to be listed on the Australian Securities Exchange.

As per sources familiar with the matter, Tony Gandel led Gandel Invest, and Thorney Investment Group, one of the most prestigious private investment groups in Australia, led the pre-IPO round. Both the companies are seemingly rather experienced in lending support to visionary SaaS entrepreneurs and helping them build establishments to disrupt industries ripe for change. Cannacord Genuity, based out of Melbourne, served as financial advisor to iVvy.

Lauren Hall, the Founder and CEO of iVvy, has expressed gratitude to Gandel Invest and Thorney Investment Group for their support, saying that their involvement will enable the company to further expand globally and grab an opportunity to disrupt the already changing event management industry scenario.

Hall was quoted to say that iVvy will be planning on aggressively expanding existing market operations worldwide, with a specific focus on European and the U.S. markets. As the industry recovers from the mayhem caused by the pandemic, the firm will increase market share and build momentum, while prioritizing on enhancing efficiencies through automation in the hospitality sector, given the reducing staff and infrastructure, he added.

iVvy was founded in the year 2009, and specializes in bringing forth a holistic, modern, and collaborative approach to catering and sales, enabling staff operate in a more efficient manner, with streamlined event management.



Source Credits:

https://www.prnewswire.com/news-releases/ivvy-announces-aud7m-us-5-4m-pre-ipo-investment-round-to-accelerate-global-growth-301295644.html

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