Silicon Valley Is Investing In A German Conference Tool

Silicon Valley Is Investing In A German Conference Tool

The past year has given numerous industries an enormous boost in digitization. The event industry, in particular, had to adjust to the new circumstances. That led to a massive decrease in face-to-face events and a sharp increase in digital conferences. Many strata of the population recognized the importance of digital tools in communication for the first time. That very quickly led to an increasing number of online meetings. Speakers no longer flew around the world but sent from the home office to the digital world. So they found a simple tool to get their message across to men or women.

This rapid rise of Skype and Zoom has again focused attention on developments in this area. It suddenly became clear that conference tools had a bright future. Therefore, investors increasingly looked for products that could add new ones to the market and have the potential for success. You can find one of those companies in Germany. The Berlin startup Morressier focuses on online scientific events. They invested 15 million euros in the company, which will now continue to develop its product.

The Old Shareholders Are Investing Again

The company around the founders Sami Benchekroun, Rino Montiel and Justus Weweler achieved this success in Series A. Numerous previous shareholders took part. These included Redalpine, Cherry Ventures and Owl Ventures. The Edutech VC from Silicon Valley also manages money from Microsoft founder Bill Gates, among other things. The company also holds shares of StudySmarter. Morressier was able to raise more than five million dollars for its conference tool in previous funding rounds. Now the founders have even tripled this amount.

CEO Sami Benchekroun has been working on their product for seven years. That is a portal with which one can share studies from scientific conferences and lectures. For a year now, users have also been able to hold live events via the portal. The basic idea behind the innovation is that all speeches, discussions, and materials are made available in a digital library. Attendees can expand it further. The tool thus reaches a larger audience.

The Old Shareholders Are Investing Again
The Old Shareholders Are Investing Again

Usage Fees Became Sales

Morressier earns money by paying a usage fee. That flows from the organizers of the conferences to the company in Berlin. Morressier also takes care of organizing the speakers and submitting the studies. In addition, there is money for each Study downloaded. The users who are interested in the data also pay a fee for it. The turnover of the Berlin company in the previous year totalled four million euros. That is what the Techcrunch portal has calculated. The founder’s parents and current managing director were decisive for the idea and its implementation. He used to accompany them to scientific conferences and recognized the need for such a solution. Together with a designer and a developer, he subsequently founded Morressier. Now they are taking the next steps towards a successful product.