Attending conferences can be a costly endeavor for companies, involving expenses such as space rental, travel, accommodations, and employee time. Determining the return on investment (ROI) for these events has been a challenge, but a new platform from Sproxxy aims to change that.
Key Takeaway
Sproxxy’s platform aims to revolutionize conference management by providing companies with the tools to quantify the ROI of their participation in industry events, addressing a longstanding challenge in the business world.
Revolutionizing Conference Management
Sproxxy, an early-stage company, has officially launched its platform after securing $1.1 million in funding. The platform is designed to streamline conference-related activities and provide valuable insights into the ROI of participating in such events.
Founder’s Vision
Melanie Samba, the CEO of Sproxxy, drew from her extensive experience in marketing and communications to address the inefficiencies in managing conference activities. Faced with the daunting task of overseeing 80 conferences annually for 12 executives, she recognized the need for a more effective solution, leading to the inception of Sproxxy.
Quantifying Conference Activity
Samba describes Sproxxy as a “conference intelligence platform” that quantifies the impact of conference participation. The platform assists brands in assessing the business value of speaking, sponsoring, and attending industry events, encompassing pre-planning, coordination, and post-conference analysis.
Market Demand and Expansion
Following the initial development of the software and its successful adoption by an agency managing 60 clients, Samba transitioned to an in-house development approach. With a growing team, she is now focused on addressing the demand from a pipeline of 1200 companies, particularly targeting midsize businesses and enterprises seeking efficient conference management solutions.
Overcoming Challenges
As a solo Black woman founder, Samba faced challenges in securing funding, reflecting broader disparities in venture capital investment. Despite these obstacles, she found support from Ivy Ventures, which initially invested $500,000 and later contributed an additional $600,000. Samba is actively pursuing further investment to reach her goal of $1.8 million.
