Event ticketing and cashless platform Howler has secured its second round of growth capital investment from three partner companies: Techstars, Platform Investment Partners Growth and Platform45.
The ticketing and cashless technology platform for medium to large-scale events has to date processed over R1.5 billion worth of transactions and millions of tickets across thousands of events.
The latest phase of funding, for an undisclosed amount, has been raised to further develop Howler’s end-to-end event technology stack, grow market share in Sub-Saharan Africa, and expand into Europe and Asia Pacific countries.
Shai Evian, co-founder and CEO of Howler, says: “Being our second round of investment, this is really significant for Howler for many reasons.
“In 2017, we were licensing our tech and had a team of about 25 people in the company. Back then, Techstars really helped us shape a vision and put us on a different trajectory. With Platform Growth’s first investment round and Platform45 as a development partner, we are two-and-a-half years down the line, 70 people strong and have managed to develop and own 100% of our entire platform.”
Howler says investment from the three firms brings value from multiple angles, including software development, funding and access to a global network of likeminded entrepreneurs.
Techstars is the worldwide network that helps entrepreneurs succeed through a global network of over 6 000 mentors, 50 accelerator programmes and over 1 900 portfolio companies. Howler is the first South African tech company Techstars has invested in.
“We’ve been extremely impressed with the progress the Howler team has made and growth in the company since completing the Barclays Accelerator powered by Techstars in 2017,” says Yossi Hasson, Techstars managing director.
“As the worldwide network that helps entrepreneurs succeed, we’re excited to support them in continuing on that journey. Our support gives Howler access to this global network to help amplify global reach for expansion, ability to attract capital and find exceptional talent.”
Platform45, a software company that specialises in product design, mobile and Web development, and has been working with Howler’s product team for some time, welcomed the latest development.
Shaun Richards, managing director of Platform45, says: “Our vision has always been to build software that helps businesses and people do more through the power of tech. When we started working with the team behind Howler, we immediately knew this wasn’t just any idea, this was an idea that could change eventing around the world.”
“With our investment in Howler, the commercial team at Howler can focus on growing their footprint globally without any concerns over the software scaling seamlessly, Platform45 can focus on what we do best – supporting Howler’s platform team in building cutting-edge features that make Howler one-of-a-kind.”
Similarly, Platform Growth’s Michael Stannard says: “Platform Growth’s core mandate is to invest in uniquely competitive technology and highly competent management teams, and Howler has demonstrated both of these attributes during our partnership.
“Howler’s platform fills a unique space in the industry that offers a seamless, proven and scalable solution for event organisers, attendees and vendors. The platform combines a deep understanding of the event organisers’ requirements, with an exceptional team of software developers.”