MyPunchbowl: $2.1 Million For Party-Planning Algorithm
MyPunchbowl is a social network niche that focuses on event planning. The Massachusetts start-up company gives users the ability to set-up events and track the guest list. What makes MyPunchbowl unique from Facebook Events and evite.com is that they send out an e-mail to guests asking what dates works best for them. Then the organizer is notified which date is ideal based on the “Pick-A-Date” algorithm. This idea works well for investors as MyPunchbowl has just raised their Series A.
Contour Venture Partners is the lead investor in this round. Intel Capital and eCoast Angels also participated in this round. MyPunchbowl plans on using the funding to hire additional employees and create new features. “We’ve seen explosive growth since our first round of funding last year,”
stated Punchbowl Software CEO Matt Douglas in a press release. “This new funding will enable us
to grow our team and pursue numerous market opportunities.”
Punchbowl Software was founded by Matt Douglas and Sean Conta. Douglas is a former Bose Corporation and Adobe Systems employee. At Adobe, Douglas helped Adobe Premiere gain $35 million in revenue in about 4 years. Conta designed acoustic software at Bose. Board members of Punch Software include Michael Rose (PNC Equity), Don Dodge (Microsoft), and Lucy McQuilken (Intel Capital).
Prior to this round of funding, Intel Capital and The eCoast Angel Network participated in MyPunchbowl’s seed funding.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry