QUICK TAKE

We’re looking at another raise, but instead of focusing on the financial portion, we’re looking back at how one company took a different approach during the Pandemic, to come out on top and as a leader in their space.

So how did they do it? Let’s break it down.

What is the news?

Planned, a company dedicated to optimizing corporate event management, has recently closed a Series B funding round, raising $35 million.

This significant financial milestone underscores their continued growth and product evolution. Here’s an overview of what Planned does, the importance of their recent funding, and key takeaways for tech founders.

Let’s dig a little deeper

Planned’s Offering

Planned helps enterprises streamline the organization of events and related travel through centralized rules and processes. Their tools allow companies to control spending, set rules, and decentralize event planning, enabling employees to efficiently organize events such as conferences, team getaways, and customer appreciation nights. Their client roster includes major companies like E&Y, L’Oreal, Nike, Instacart, Airbnb, and Square.

Some Notable Series B Highlights

Funding: Planned has successfully raised $35 million in Series B funding.

Board Addition: The CEO of Hopper, a successful travel company, has joined Planned’s board. This addition brings valuable industry experience and validation to Planned’s vision and strategy.

Significance of Hopper CEO Joining the Board

Hopper has carved out a niche in the competitive travel market, contending with giants like Expedia and Travelocity.

Frederic Lalonde’s decision to join Planned’s board signals a strong vote of confidence in the company. His expertise and industry connections are expected to bring significant benefits and strategic insights to Planned.

Resilience and Vision

Planned demonstrated remarkable resilience during the COVID-19 pandemic. While many companies in the events and travel sector pivoted to virtual events, Planned chose to double down on their core values. They focused on understanding their customers' needs and developing a world-class product, positioning themselves strongly for the post-pandemic recovery.

Key Takeaways for Founders

Take a Customer-Centric Approach

Understanding and addressing customer needs is crucial.

Planned’s focus on their customers allowed them to refine their product and value proposition, even during challenging times.

Have Resilience

Staying true to your vision and values can pay off in the long run. Planned’s decision not to pivot to virtual events, despite market trends, proved to be a strategic win.

Make Strategic Business Moves

A large portion of this news also involves the appointment of Hopper CEO (Frederic Lalonde) to the board.

Adding industry experts to your board can provide invaluable insights and validation. The Hopper CEO’s involvement with Planned is a testament to the company’s potential and strategic direction.

Identify Your Ideal Customer Profile

Identifying and focusing on your ideal customer profile can drive growth.

Planned’s success in winning key clients and expanding across their customer base highlights the importance of targeting the right market segment.

Have a Long-Term Vision

Avoid short-term market reactions that may not align with your core values and vision. Planned’s steadfast commitment to their original strategy, despite the pandemic’s impact, underscores the importance of long-term planning.

Final Takeaways

Planned’s journey offers valuable lessons for tech founders on the importance of customer focus, resilience, and strategic growth. Their recent success in raising Series B funding and adding a prominent industry leader to their board sets a strong foundation for continued innovation and expansion in the corporate event management space.

Remember. We share our opinions and perspectives from research and conversations we’ve had amongst ourselves and other professionals across the sector. Feel free to share your own — we encourage it, especially if you disagree.

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