AI Startup Ande Raises Over $52M in Seed and Series A Financing

The round saw backers including Lightspeed Venture Partners, Redpoint Ventures, Duration Ventures, Sierra Ventures, and Bain Capital Ventures.

The company plans to use the funding to expand its operations and grow its business reach.

What is Ande?

Ande is an AI-powered platform that helps companies manage corporate entertainment spending, including client dinners, team outings, catering, sporting events, and gifting.

Its platform brings booking, approvals, contracts, payments, and expense management into one system. AI-powered workflows can find venue availability, book experiences, route approvals, handle contracts, and reconcile expenses.

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The platform is used by executive assistants, office managers, field marketing teams, go-to-market teams, and finance and legal teams.

Ande also connects corporate buyers with entertainment and hospitality venues, giving venues a way to reach and transact with corporate customers.

How Much Funding Has Ande Raised?

Ande has raised more than $52 million across its Seed and Series A financing.

The latest financing included investments from Lightspeed Venture Partners, Redpoint Ventures, Duration Ventures, Sierra Ventures, and Bain Capital Ventures.

Who Invested in Ande’s Seed and Series A Financing?

The round was backed by:

• Lightspeed Venture Partners
• Redpoint Ventures
• Duration Ventures
• Sierra Ventures
• Bain Capital Ventures

Why the Funding Matters

Ande plans to use the new capital to expand its operations and grow its business reach.

The company is focused on building its platform for corporate entertainment spending and expanding its network of businesses and venues.

Who founded Ande?

Ande was founded by Lohit Sarma and Michael McDermott.

The company is based in New York City and operates as an AI-native network for corporate entertainment.

Leadership Comments

"Entertainment is one of the most important things a company does. It builds culture, closes deals and deepens the relationships that matter most. Yet the infrastructure to manage it is broken on both sides of every transaction," said Lohit Sarma, CEO and co-founder of Ande.

"Our programs are high stakes and high visibility, with our executive leadership team and key customers at the core of each event we host," said Vicky Chung, Director of Corporate Events at Netskope. "My team and I trust Ande's platform, and especially the team behind it.

Market and Business Growth

More than 60 enterprises currently use Ande to book, manage, and measure corporate entertainment.

The company says its customers report savings of 12% to 15%, while more than $400 million in entertainment spending flows through the platform annually.

Ande's network includes more than 93,000 entertainment venues across more than 90 cities. It also works with 1,600 hospitality venues, including groups such as Altamarea Group, Che Fico, Gracious Hospitality, JKS, The Mina Group, MML, Nobu, Riviera Dining Group, Tao Group Hospitality, Unapologetic Foods, Bacchus Management Group, Wish You Were Here, and Wolfgang Puck.

Customers using the platform include Cloudflare, Salesforce, McGraw Hill, Netskope, Navan, Sigma Computing, Monday.com, Workato, Semgrep, Checkout, and Rillet.

What Happens Next?

Ande will use the new funding to expand its operations and business reach. The company will continue developing its AI-native platform and growing its network of corporate customers and entertainment venues.

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