ON24 Raises $8 Million for Virtual Events

Virtual events provider ON24 announced this morning that they have raised over $8 million in equity and expansion capital financing, bringing their total to $46 million venture capital raised to-date. U.S. Venture Partners, Canaan Partners, and Rho Ventures led the equity round; while Gold Hill Capital led the expansion capital financing. The company notes that the funding will be used to "accelerate ON24's global expansion of the sales, marketing and client services organizations; and product development initiatives, including ON24 Virtual Show and the company's flagship webcasting platform."

ON24 reports sales growth of 40% year-over-year. ON24 offers a "Virtual Show" product (see screenshot below). I get the idea of virtual (i.e remote) conferences and the associated cost benefits. But does it need to look like a virtual world too? I'd prefer a simple Web page with the different rooms and events rather than this silly, goofy mall-like atmosphere. What's the cost to build these virtual worlds? I am guessing there are some standard setups but I am sure that most exhibitors want something custom. Just because something is x in real-life, doesn't mean that online we need to recreate x.