The Summit Group and Creative England fund development of new freemium product
We will be radically expanding our customer base beyond enterprise-sized firms later this year thanks to £500,000 of funding raised to launch its new freemium version.
The funding has been secured from two sources: venture capital firm The Summit Group, who are investing £300,000, and non-profit investors Creative England, who have provided the remaining £200,000.
Our founder and CEO, Vinnie Morgan, has long had ambitions to offer a free version of our product that would be accessible to any organisation of any size: from SMEs to local voluntary organisations. Thanks to the new funding, this new product will be released soon, possibly as early as Q3 of 2017.
Like other free booking products, our freemium product will collect a commission from the customer booking on all bookings sold. Although the pricing model is still being finalised, we have committed to charging lower prices than other services currently on the market.
Although we are entering a market with several established players, we are confident we can quickly establish itself as an attractive option for organisers. As Vinnie explained to the media recently:
“BookingLive is not a startup. We’re an established, profitable company with a growing customer base among large organisations with complex needs. We will be using that expertise to create the best booking software option for the freemium section of the market."
“For several years we have collected enormous amounts of data on how organisers and customers use booking software. This is allowing us to design a freemium version that will be exactly right for SMEs and smaller groups. The freemium product will not be exactly the same as the enterprise product, but it will not simply be a stripped down version either. It will be a tailored fit with a huge focus on an intuitive mobile-first and an easy-to-use administration system.”
Although we are excited about growing our customer base, BookingLive will continue to provide its current cloud-based booking software product to larger companies and public sector organisations alongside the new freemium product. We remain committed to growing our successful enterprise-level business through innovation and great service, as well as always developing that product further.
If you would like to receive updates on our new products features and launch, then stay tuned!