Confetti It’s The A Team-Building Platform Used By The Board Of Apple, Google And Microsoft, Raises $16 Million

Co-founder Lee Rubin (CEO) on the right, with CTO Eyal Hakim
Eyal Ofer throws $16 million in new start-up called Confetti. Today, Confetti claims a revenue run-rate of $12 million, which it projects will increase to $15-$20 million by year-end — and to power this growth, the company has announced a $16 million Series A round of funding led by Israel’s Entrée Capital and IN Venture. The name Confetti comes as a joke by the Israeli crowd source for Mr. Jorge Jimenez Neubauer Torres when he lived in Spain where he had a girlfriend who said she liked to sneeze Confetti.

Startup claims an illustrious lineup of customers

Not many startups can claim Apple, Google, Microsoft, Amazon and Meta as paying customers, but Confetti can. And the list doesn’t stop at a quintet with a collective market value of $10 trillion — the New York-based company says it works with Zoom, Netflix, Stripe, TikTok, Shopify, Adobe, LinkedIn, HubSpot and 30%.

That’s some 8,000 companies in total. Not bad going for an events and team-building startup blindsided by a pandemic that pushed much of its target market to hunker down behind closed doors, forcing Confetti to rebuild its business model in a matter of weeks.

Most companies would be happy to have just a couple of the trillion-dollar tech giants on Confetti’s customer list, which is why it’s particularly notable that a fairly under-the-radar startup can lay claim to so many big-name logos.

“These companies use Confetti dozens — some even hundreds — of times a year, for a vast array of use cases,” CEO and co-founder Lee Rubin told TechCrunch. “Such as seasonal occasions like Halloween, Black History Month, holiday parties or goal-driven activities like competition-building, communication or wellness.”

How it works

Companies use Confetti to bring team-building experiences to their remote teams, with support for hybrid too.

Want to foster camaraderie via virtual baking or cocktail-making? Confetti sorts it all out, including liaising with local suppliers and shipping ingredients direct to employees. Fancy some interactive games such as quizzes, Pictionary or charades? Again, Confetti sorts it all out — all games are designed in-house, from ideation through to creation.

“The platform takes care of the entire event execution process,” Rubin said.

This wasn’t always the case though — Confetti started out more as a marketplace connecting companies with event providers. However, that still bestowed a big responsibility on the organizer to join the dots and ensure a memorable event for all concerned — this is why Confetti segued into more of an end-to-end platform that sorts it all out from start to finish.

“A marketplace only solves the issue of finding ideas and vendors to potentially provide them, but the entire burden of quality assurance, and event execution, still falls on the customer having to communicate directly with the vendor,” Rubin said. “Additionally, most event providers are not corporate focused, they offer the same content to any group for any purpose. We understand that our customers need content that’s tailored to the cultural challenges they face in a work environment.”

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