LASSO Raises $5 million Series A Round Led By McCarthy CapitalLasso
McCarthy Capital invest $5 million from their Emerging Growth Strategy.
LASSO, the people platform for the live events and entertainment industry, announced today that it has closed a round of funding.
The $5 million round was provided by McCarthy Capital out of their Emerging Growth Strategy. This round follows a seed round for $3 million in December 2021 enabling triple digit growth in 2022 and being named one of the fastest growing technology companies in the Inc. 5000.
Clay Sifford founded LASSO to help event companies better manage their workflows with electronic crew onboarding, skills management, crew scheduling, event communication, time-tracking, travel management, and payroll processing, among other solutions. In 2022, LASSO has also continued to enhance its crew marketplace which offers technical talent across 25 production positions, in the top 25 markets in the US.
LASSO's rapid growth demonstrates the evolution of an industry that has been underserved by technology for decades. "We're still in the early innings of transforming the event and entertainment industry, and this timely investment from McCarthy Capital will enable us to scale quickly", said Sifford, CEO of LASSO. "This isn't just an investment in LASSO, it's an investment in the people and companies that make exceptional performances happen, and we are excited to have a partner that shares our vision and commitment to revolutionize the industry."
LASSO will use the funding to scale its operations, invest in product development, hire additional team members, and further expand its crew marketplace offering.
"We are excited to partner with the management team of LASSO," said Matt Breunsbach, Managing Director at McCarthy Capital. "The company has experienced impressive growth since inception and is committed to continuing to build unique solutions to challenging problems within the event and entertainment industry. We look forward to supporting LASSO's growth and continued efforts to become the leading platform for the entire industry."