Startup of the Week: Razzby
Lithuanian startup Razzby is an extremely capable event management and ticketing Saas that lets event organizers create unique, custom-looking event websites, sell tickets, and manage the finances and registrations. As Aurelijus Useckas Co-founder and CEO of Razzby said: “It is very accessible and easy to use. Eventually, the platform will mature into the full event cycle management solution, but for now, we’re concentrating on perfecting our core features and business.”
What are your competitors and competitive advantages?
Splashthat, Tito, Bizzabo, Attendify, and to a lesser extent – Eventbrite, Fienta, and other ticketing services.
Some competitive advantages:
- Razzby is much more accessible than our competitors because we’re offering a full self-service solution with transparent and fair pricing. Some competitors are up to 20 times more expensive, plus try to upsell constantly.
- Software is built with the most recent technologies, and all operations are cloud-based (uptime 99.99%) and blazing fast.
- We’re genuinely user-centric; we build the whole product around our users.
- Invoices/bank transfers are free (for PRO accounts). Unlike some of our competitors, we charge only for the card payment services.
- We’re fully embracing a full-fledged integration with Stripe – the number one payments solution and innovator (security, fraud protection, and other advanced financial toolsets).
- Privacy and security are our main priority. We don’t sell nor use the data collected by our users, even for analytics purposes. All data is encrypted and cannot even be accessed by us.
- Constantly improving with regular updates and feature add-ons.
- Easy and quick onboarding.
- Advanced event website builder with 15 (and counting) event tailored widgets. Wix for events if you will.
What were the reasons behind coming up with this idea and launching this product?
We were event organizers ourselves and we lived and experienced all of the struggles our customers face day to day. Our idea was born from the discontent with the available solutions. It was born from the urge to improve and perhaps even disrupt the current business event software market, which badly needs a facelift.
When exactly did you launch, what were the main challenges before launching?
We had emerged from the open beta only a few months ago. The main challenges before our launch were the search for perfect payments integration as well as building the platform and completing the core features while running multiple international conference websites and ticketing services at the same time.
Mainly – business event organizers (conferences, seminars, workshops, etc.), agencies that accommodate multiple professional and usually international business conferences a year.
Geography focus is quite large: Baltics and Poland for now, Netherlands, Spain, Germany, and the UK as our next steps.
The endgame is the expansion into the US.
What are the main challenges while working on this product, and how are you overcoming them?
The main challenge is to find new and innovative ways to reach our audience as the usual channels are quite expensive and overused. We have some unconventional ways and tricks in our sleeves for this.
How are you funded? Do you seek extra funding?
Self Funded mainly. We also received guidance and a pre-seed investment from the major accelerator in the region – StartupWiseguys. They are our first and only external investors to date.
We’ll be raising our first Seed round at the end of the first quarter of 2020.
Please introduce your founders, your core team, and your broader team?
We are a lean and flexible team with three core members as of now, plus a remote and flexible back-office support team.
Aurelijus Useckas – Co-founder and CEO
Edmundas Studzius – Co-founder and CDO
Nerijus Ereminas – Head of sales
And we’ll be welcoming at least two new members in the coming month (COO and CMO)
How has business been so far? Could you share some numbers to illustrate this (users, sales, etc.)?
As I mentioned before, we had launched publicly only a few months ago, but since then, our user base has grown quite rapidly — 10 % – 20% on a two-week basis. We’re focusing on sales and at least 50% user and sales growth per month.
While in the open beta, 26 conferences and seminars were organized using our tools during the last year, and we’ve accommodated around 10000 ticket sales in Estonia, Poland, Lithuania, the Netherlands, and Ukraine.
Future plans, ambitions? Simply speaking – what’s next?
Expansion of our team. We’re in an active search for talent that loves the thrills and challenges of working in a rapidly expanding startup. Seed round to expand into new markets. Redefining the market, gaining at least 15 – 20% of the business event software market. The 2nd Lithuanian Unicorn.
Thanks for your answers!
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