Mobile events and conferences app DoubleDutch announced the raise of $19 million in Series D funding this morning. Led by Mithril Capital Management with participation from Bessemer, Index, and Bullpen Capital, the new cash is intended to help expand DoubleDutch’s global reach, build out technical capabilities, and cement DoubleDutch’s market dominance, according to the company. Both Bessemer and Bullpen have been investors in earlier rounds.
Ajay Royan, Mithril’s co-founder and managing partner, will be joining the board of directors for DoubleDutch as well.
Globally, more than $500 billion is spent on events and conferences, according to DoubleDutch. “Trade shows still constitute the biggest line item on a B2B marketer’s budget, with nearly 20% of spend committed to live events,” said Laura Ramos, analyst for Forrester Research. “B2B business relationships are built on trust and personal interaction. For this reason, marketers will never be able to banish trade shows from the marketing budget,” she says.
This new round of cash puts DoubleDutch at $37.5 million in total funding to date.