East Coast Startup Raises $3.4m Pre-Seed Funding to Revolutionize the Events Industry.
Holiday Party Season may be slowing down as December winds down, but this new startup is continuing to ramp up. RestauRent, the innovative platform simplifying the process of booking private event spaces, has announced the successful completion of its $3.4 million pre-seed funding round. This milestone marks a significant step forward for the company as it accelerates its expansion and strengthens its presence in key markets.
Founded in late 2022 by Nick Cianfaglione, RestauRent was born out of a personal challenge. When searching for a private event space for a family gathering, Cianfaglione discovered how fragmented and inefficient the booking process was. Recognizing a significant gap in the market, Cianfaglione brought together an all-star team of hospitality & startup operators, including; Will Tondo and Ann-Marie Harrington, to create a solution that connects venues with “everyday event planners” seamlessly.
The platform addresses a growing demand in the private event space market, which sees over 400 million occasions annually in the U.S. requiring such venues. RestauRent’s user-friendly interface allows customers to search for venues based on location, capacity, and amenities, while also providing venue owners with tools to maximize bookings and revenue.
Rapid Growth Across the East Coast & Beyond
In just over 2 years since launching, RestauRent currently offers over 1,100 bookable spaces across New York City, Boston, Rhode Island, Connecticut, and Texas (Austin, Houston, Dallas). Headquartered out of Providence, RestauRent quickly grew outside of the “smallest state in the union” to achieve over $10m in private event opportunities in just one year.
“Our growth across the East Coast & beyond has been exciting” Says Cianfaglione. “We have helped process over 5,000+ event requests in the past year. These requests are for everything from personal gatherings up to private events for large organizations like Hubspot, Yelp, IBM, major universities, and more”
Funding & Market
The $3.4 million pre-seed funding round, backed by institutional venture capital firms such as Rogue Ventures, PS27 Ventures, Collide Capital, and more, will enable RestauRent to enhance its technology, expand its team, and grow its market presence. The investment reflects the confidence investors have in the company’s vision and its ability to build the future of private events in this booming market.
The private event market has seen significant growth in recent years. According to industry reports, the global event management software market is projected to grow at a compound annual growth rate (CAGR) of 11.6%, reaching $14.1 billion by 2028. This surge is driven by the increasing demand for unique, customizable experiences and the adoption of digital tools by hospitality venues. RestauRent is perfectly positioned to capitalize on these trends, offering a streamlined, tech-driven solution that benefits both event planners and venue owners.
Looking Ahead:
With a fresh wind under their sails RestauRent is ready to continue scaling its platform in both new & existing regions as they stay focused on achieving their mission to simplify the private event discovery & booking process.
For more information on RestauRent:
Contact: [email protected]
Website: https://www.restaurent.com/
Comments