We’ve Raised $225,000 to Help More Couples Create Their Perfect Wedding Day
This week, we closed our first round of funding with investment from Internet veterans Erik Blachford -- the former CEO of Expedia, Eric Liaw -- Institutional Venture Partners, and David Rodnitzky -- Founder & CEO of 3Q Digital. We’re so excited that what we’re doing at Wedding Spot is resonating with our users and investors who want to help us fulfill our mission of being the one-stop shop for the wedding industry. Nihil Patel and his fiancée used Wedding Spot to book their wedding at The Bently Reserve in San Francisco, CA and will be getting married next year:
“Wedding Spot has been a valuable resource while we were looking for a venue for our wedding day. By using Wedding Spot we were able to narrow down the list of venues based on location, style, and price, and then book an appointment with the venues to determine our final choice. It has really been a great way to synthesize information. I would recommend Wedding Spot to every newly engaged couple looking to start the planning process.”
Venues are also benefiting from more qualified leads. Since the technology we have built books appointments with brides who have already priced out each venue and know that it fits their budget, our venues are seeing conversion rates in the 40-50 percent range versus typical single digit conversion rates in the industry.
“We've been very impressed with the customers Wedding Spot has referred to us so far,” said Caren Pearlman from The Mountain Terrace, a Wedding Spot venue. “Unlike the leads we get from other wedding sites, these couples have done their research and are ready to book a wedding. Wedding Spot has saved our team a significant amount of time because they are basically conducting the first initial consultation for us and then handing off the leads that are vetted.”
And happy customers have sent the right signal to investors. Erik Blachford is the former CEO of Expedia and this is what he had to say about Wedding Spot and his investment:
“The wedding industry is a $161 billion market in the U.S. Until Wedding Spot, this industry has come up short on efficiency and transparency. Wedding Spot gives wedding venues technology to manage their entire business process online, helping to sift through thousands of inquiries a month and bubbling up only the leads that have a high probability of booking the venue. This is a much needed change from the offline process that venues have been accustomed to for decades, where hours are spent each day qualifying leads by phone and in person.”
This week we also launched in New York and will be expanding to the surrounding East Coast areas shortly. We’ve accomplished a lot in just 3 short months, so here’s to what we can do in 2014! Happy holidays, everyone!