BoomPop Raises $25 Million to Revolutionize Event Planning with AI

BoomPop, an innovative AI-driven event planning platform, has successfully raised $25 million in equity funding, according to exclusive information provided to Crunchbase News. In addition to this equity round, the company secured $16 million in debt and credit through Silicon Valley Bank. The equity funding was primarily led by Wing VC, with participation from several notable investors including Atomic, Acme Capital, Four Rivers Group, and Thayer Investment Partners. Individual investors in this round included former MLB All-Star Alex Rodriguez and former DoorDash President Christopher Payne.

With this latest financing, the San Francisco-based startup has amassed a total of just under $56 million since its inception in 2020. Although the company did not disclose its current valuation, it characterized the funding round as a “good up round.” Initially launched as a research project called BoomBox during the COVID-19 pandemic, BoomPop has since evolved to focus on facilitating in-person corporate events.

The platform aims to simplify the often complex process of planning company offsites and events. CEO and co-founder Healey Cypher highlighted the significant demand for such services, stating, “Most people don’t realize that when it comes to corporate travel, almost 60% of it involves groups.” He further noted that booking more than 10 hotel rooms online is often not feasible.

BoomPop has quickly attracted over 450 clients, including major companies like Netflix, Google, Dropbox, Hims & Hers, and Anaconda. The company experienced remarkable growth, ranking No. 115 on the most recent Inc. 5000 list, reporting a staggering 3,073% growth over three years. Currently, BoomPop boasts a revenue run rate exceeding $75 million, with projections indicating that it could surpass $100 million in total gross revenue this quarter.

AI-Powered Solutions for Event Planning

BoomPop leverages artificial intelligence to enhance the event planning experience while emphasizing the importance of genuine human connection. Cypher explained that the platform serves as a companion for employees tasked with organizing events, offering both self-serve and full-service options. For those requiring more assistance, the company has a team of 35 professional planners available to manage more complex events, providing on-site support.

The platform’s AI analyzes “millions” of data points in real-time, considering factors like weather, hotel pricing, and citywide events to generate tailored event options. Once a user specifies their requirements—for instance, planning a 100-person summit within a short driving distance from San Francisco—the AI executes the planning process, which includes booking vetted vendors, managing RSVPs, and coordinating with hotels to accommodate guest preferences.

Currently, BoomPop has facilitated the booking of over 60,000 hotel nights for its clients, with a notable focus on corporate offsites and retreats. Interestingly, the startup also assists companies in organizing events for their clients, which Cypher identified as a key marketing strategy for scaled AI companies.

Market Position and Future Prospects

The rise of remote and hybrid work models has prompted companies to invest more in bringing employees together, according to Gaurav Garg, founding partner at Wing Venture Capital. He expressed that the traditional planning process remains labor-intensive. “BoomPop brings together what used to be a patchwork of tools into a single intelligent product,” Garg stated, emphasizing its user-friendly design.

BoomPop generates revenue through various channels, including a “relatively low” SaaS fee for internal event planning and an optional premium service that functions as a boutique agency. Additionally, the company earns finder’s fees from vendors.

In late September, BoomPop announced a partnership with Brex, allowing companies to book private dining and sports suites using Brex points, further expanding its offerings.

Overall, BoomPop’s recent funding round represents one of the largest this year for startups focused on event planning. Crunchbase data reveals that the global total for startups in this sector has reached just under $252 million in 2024, indicating a downturn compared to previous years. In contrast, the industry raised over $2.1 billion in 2021.

As BoomPop continues to grow and innovate within the event planning space, it stands poised to redefine how companies organize and execute their gatherings in an increasingly digital and automated world.