The investment will help the MaaS platform bring the corporate metaverse to the $1T+ hotel and events industry.
RendezVerse, the first metaverse as a Service (MaaS) platform for the hotel and events industry, today announces it is raising funds in a seed round to secure £7.5m to scale its platform.
RendezVerse is designed specifically for the hotel and events sector, worth $1.25 trillion. In this industry, 33% of all hotel revenue is event-related, rising to 75% in sector-specific hotels.
It is RendezVerse’s mission to bring physical venues to digital life. With over 100 million site inspections each year across corporate events, conferences, weddings & live venues, the company’s MaaS solution will save time, money, and emissions by drastically reducing unnecessary travel.
To scale the platform further, RendezVerse is looking to secure £7.5 million which will help the company acquire 3,000 venues and 10,000 users, and reach £30m in sales by 2026.
With Worldwide Events as a founding shareholder, the market-leading events company specialism in the hotels and meetings sector will benefit investors thanks to unrivalled access to a community of 61,000 hospitality and event professionals for accelerated market access.
Peter Gould, CEO of RendezVerse and Chairman of Worldwide Events, comments:
“The hotel and events sector is worth $1.25 trillion, and yet venue owners are either performing site visits in person or using video conferencing platforms and mobile phones to conduct remote site inspections. This workflow is unsatisfactory and inefficient, and it’s time to upgrade.
“We are elevating virtual tours into the metaverse, bringing a truly immersive experience to the table and revolutionising how event spaces do business. Through RendezVerse, physical venues are brought into digital life, enabling selling at a distance to be just as effective as in real life.”
Mark Brown, COO of RendezVerse, adds:
“The world of B2B metaverse experiences is set for rapid growth, with demand for more immersive client experiences and net zero considerations helping accelerate adoption in the hotel and event sector.
“Our addressable market of 338k hotels and venues is currently unpenetrated, with less than 1% having been digitised. Our market access with Worldwide Events as initial investors, plus proven demand from major hospitality players, shows RendezVerse can lead the way in levelling up the way hotels and event spaces do business in the Web3 age.”
RendezVerse has seen £2,500,000 invested to date, allowing it to develop its MaaS platform with over 20 digital twins already created, resulting in 40,000 m2 of event spaces in the metaverse. Existing customers include Marriott, Atlantis, and Hilton, with interest from major tech players, including Meta.