Perfect Venue, a private event management platform for restaurants and venues, has raised $3.6 million in seed funding. Defy.vc led the round.
San Francisco, Calif. – April 21, 2022 – Perfect Venue, a private event management platform for independent restaurants and venues, announced its $3.6M Seed funding today. The round was led by defy.vc, with participation from Amity Ventures and Context Ventures. Caviar Co-Founder Shawn Tsao, Dutchie Co-Founder Sam Ellis, and Meritech Co-Founder Paul Madera also joined the round, amongst others. Brian Rothenberg of defy.vc will be joining Perfect Venue’s board of directors. The new investors are joining The Hustle Fund and Wisdom LLP who invested in Perfect Venue’s pre-seed round. The funds will go towards product development to deliver an unparalleled experience for restaurant and venue operators.
Before founding Perfect Venue, CEO and Co-Founder Luke Hutchison served in the US Army. In between deployments, his unit would often have social events at restaurants. While planning these events, Luke was surprised to learn that many restaurants were still using spreadsheets, Word docs, and handwritten credit card authorizations to manage events that were tens of thousands of dollars. As a result, they would make mistakes, waste hours, and lose revenue to large chains that had already digitized their operations. The alternative was using expensive, old, and complicated event management software that wasn’t mobile-friendly.
“To me, it didn’t seem fair that small business owners should be stuck with those two bad options – so we launched Perfect Venue to change that,” said Hutchison. “Private events represent about a third of independent restaurants’ revenue, or $80B each year in the US, so it is a critical revenue stream for restaurants.”
Perfect Venue’s all-in-one event management platform allows restaurants to easily respond to messages, send fast and professional proposals, and securely collect payments online. By streamlining the entire process in one platform, Perfect Venue’s customers report saving 12 hours per week and see an increase in sales of more than 40% when they switch to Perfect Venue.
“Perfect Venue allowed me to organize and revitalize the Events Department for Bristol Brewing,” said Chris Reyes the Events Director at Bristol Brewing in Colorado. “Before Perfect Venue, I juggled multiple email inboxes, Excel, Word, Google Docs, a paper calendar, and Google Calendar. Perfect Venue consolidated all of that and saved me hours every day. It also made it easier for me to capture more guests and increase vital revenue.”
“This investment will allow us to better achieve our mission of bringing communities together and empowering small businesses by making the event booking experience effortless,” said CTO and Co-Founder Matt Walters. “We already integrate with popular tools like OpenTable and Tock, but now we’ll have the resources to build deeper POS integrations, a native app, a room layout generator, and more. As a result, these improvements will give our customers even more of a competitive edge for their events business.”