BoomPop Secures $25M to Revolutionize Corporate Event Planning

BoomPop, an innovative event planning platform utilizing artificial intelligence, has successfully raised $25 million in equity funding, as reported exclusively to Crunchbase News. The San Francisco-based startup also secured an additional $16 million in debt and credit from Silicon Valley Bank. The equity funding was primarily led by Wing VC, with contributions from several significant investors, including Atomic, Acme Capital, and Gaingels, as well as notable individuals like MLB All-Star Alex Rodriguez and former DoorDash President Christopher Payne.

Since its founding in 2020, BoomPop has raised nearly $56 million in total funding. While the company did not disclose its current valuation, it characterized the latest round as a “good up round.” Initially established as a research project named BoomBox during the COVID-19 pandemic, BoomPop transitioned into its current format in 2023, emerging from the Atomic venture studio.

Healey Cypher, CEO and co-founder of BoomPop, highlighted the significant demand for their services, noting that nearly 60% of corporate travel involves group events. He emphasized the challenges faced by companies when booking accommodations, stating, “If you need to book more than 10 hotel rooms, you cannot do that online.” With a client base exceeding 450 companies, including major players like Netflix and Google, BoomPop reported remarkable growth, achieving a 3,073% increase over three years, as listed in the latest Inc. 5000. The company currently boasts a revenue run rate surpassing $75 million.

Streamlined Event Planning through AI

BoomPop’s platform is designed to enhance the event planning process, operating on the principle that genuine human interaction remains irreplaceable. The service provides both self-service and full-service options for employees planning offsites or corporate events. For those requiring additional support, BoomPop maintains a professional planning team of 35, dedicated to managing more complex events, according to Cypher.

The platform utilizes a sophisticated AI system capable of analyzing “millions” of real-time data points, including weather conditions, venue pricing, and citywide events. Clients can input specific requirements—such as a 100-person summit within a three-hour radius of San Francisco—and receive tailored event options. Once preferences are set, the AI takes charge of execution, handling vendor bookings, contract reviews, and RSVP management. Cypher claimed that tasks that previously required entire teams weeks to complete can now be done in mere minutes.

To date, BoomPop has facilitated over 60,000 hotel nights for its clients, with company offsites and retreats emerging as its fastest-growing segment. Notably, the platform also assists firms in organizing client-facing events, addressing the crucial role of such gatherings in marketing for scaled AI companies.

Investing in Modern Corporate Gatherings

According to Gaurav Garg, founding partner at Wing Venture Capital, companies are increasingly investing in employee gatherings in the post-pandemic climate of remote and hybrid work models. He remarked that the planning process for these events remains burdensome and manual. “BoomPop brings together what used to be a patchwork of tools into a single intelligent product,” Garg noted, underscoring the transformation BoomPop represents within the industry.

BoomPop generates revenue through various channels, including a subscription model for internal staff event planning and an optional premium service that functions as a boutique agency, charging per attendee for each event. A significant portion of its income is derived from vendor finder’s fees.

In a strategic move to enhance its offerings, BoomPop recently announced a partnership with Brex, enabling companies to utilize Brex points for booking private dining experiences and sports suites. As the landscape for corporate events evolves, BoomPop positions itself at the forefront of this transformation, aiming to streamline and modernize the event planning process for businesses worldwide.