South African startup TROOP, which creates tools for corporate meetings around the world, has raised $11 million in Series B funding.
According to TROOP co-founder Leonard Cremer, “TROOP’s growing presence in South Africa comes at a key time, with the South African economy projected to make an upturn and its meetings, incentives, conferences, and events (MICE) business likely to develop dramatically over the coming year.”
With the move toward scattered teams, there is a greater need for group meetings, which is addressed by the technology platform from TROOP. It assists businesses in scheduling, booking, paying for, and managing the logistics of in-person meetings. Their clientele includes both new businesses and well-established international corporations.
According to Steve Singh, executive chairperson of TROOP and managing director at Madrona, “a portion of this investment will be allocated towards the continued growth of TROOP’s technology, customer success, and sales teams to support the broadening international footprint and rapid expansion across South Africa, Europe, and the US, and to deliver and launch TROOP: One, the company’s end-to-end meeting management platform due to launch later this year.”
With deep technological integrations into best-in-class service providers like Spotnana, Center, and others, The TROOP: One platform will include enhanced planning capabilities, expand into booking, management, and meeting expenses and give customers the flexibility to work with the service providers of their choice. This platform will provide a superior user experience and workflow for corporates planning in-person meetings.
By 2023, TROOP hopes to have doubled its workforce in South Africa, and by 2025, it aims to have a global workforce of 170.
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