MeetingPlay, a technology company that focuses on solutions for in-person, virtual and hybrid events, has received a $75 million investment from Sunstone Partners, a private equity firm that focuses on software and tech-enabled services companies.
The hybrid event tech company offers a full suite of features for conferences, events and meetings that allow for enhanced attendee experiences. The company’s proprietary software platform includes standards for attendee engagement, event attendance, customized virtual environments and broadcast-quality programming.
MeetingPlay is popular among several heavy hitting companies like Marriott International, Databricks, and more. Through the partnership with Sunstone, MeetingPlay is now positioned to execute on a growth strategy by way of the development of innovative products, expanding delivery capabilities and enhancing go-to-market strategies to continue to provide market-leading customer experiences.
“Sunstone’s investment strategy, which puts people and innovation first, will help us grow our product offerings and enable our customers to deliver even more exciting, on-brand and transformative events. We knew early on that Sunstone shared our vision, stressing their desire to preserve our unique culture and strong emphasis on exceptional customer service. We look forward to working with them during this next phase of growth and innovation.” said MeetingPlay Co-CEO Joe Schwinger in a statement.
In a recent op-ed for BizBash, Schwinger said, “My message to those going back to old ways: If there was ever a time to be more like Netflix and less like Blockbuster, now is the time.
Sunstone Co-Founder and Managing Director, Michael Biggee, in a statement said, “MeetingPlay delivers unparalleled digital experiences that blend personalization, networking, content and unprecedented engagement that are scalable to support audiences of 100,000 or more. We couldn’t be more delighted to partner with MeetingPlay on their exciting future.”
Sunstone Partners is a growth-oriented private equity firm that makes majority and minority investments in software and technology-enabled services businesses. The firm typically seeks to partner with teams, to help accelerate organic growth and fund acquisitions.
Transaction terms were not disclosed. Mirus Capital Advisors served as exclusive financial advisor to MeetingPlay on the Sunstone investment. Choate, Hall & Stewart LLP acted as Sunstone’s legal counsel.