xBevy raises $40M for enterprise events in deal anchored by 25 Black investors

Bevy has raised $40 million at a $325 million valuation to grow its platform for staging virtual events for enterprises. And it has also broken a diversity barrier by bringing 25 Black leaders on as investors.

Palo Alto, California-based Bevy helps enterprises build, grow, and scale their global customer communities using its platform for virtual, in-person, and hybrid digital-physical events.

The funding came from Accel Partners, LinkedIn, Qualtrics cofounder Ryan Smith, and Upfront Ventures. About 70% of the individuals participating in the round — representing 20% of total funds raised — are Black investors, including diversity pioneer James Lowry, Facebook board member Peggy Alford, and Beats by Dre marketing exec Omar Johnson.

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