Nashville’s startup LASSO, which works as the operating system for the entertainment space, is expanding through a recent acquisition.
The EventTech platform announced today has acquired Shoflo, an Orlando, Florida-based platform for producers of live events.
The two platforms have a lot of obvious synergies in the evolving lives events space. The market, set to surpass $17.3 billion by 2030, has traditionally seen limited options for producers to streamline operations, logistics, and budgets.
LASSO provides project and crew management and Shoflo brings run-of-show software and teleprompter solutions to the events industry.
Executives from the two startups first met in 2018 at the National Association of Broadcasters (NAB) show, LASSO’s CEO Clay Sifford told Hypepotamus.
“I was walking the aisles with Angela Alea, our President and Chief Revenue Officer, and we stumbled upon [Shoflo’s] booth. It was immediately clear to us that Shoflo was purpose-built for our industry. And it was something our customers really needed. We tried to start a conversation with their founders, Stephen and Cole, about the possibility of an acquisition, but unfortunately, the timing wasn’t right. Fast forward to August of last year, one of our investors helped us reconnect. From there, the discussions picked up, and we’re thrilled to finally bring Shoflo into the LASSO family.”
What’s Next For LASSO
Following the acquisition, the Shoflo team will work under the LASSO banner. “We are committed to maintaining and enhancing the products Shoflo has built since its 2013 launch,” Sifford told Hypepotamus.
The acquisition will mean that LASSO customers will have all-in-one event management solutions from RFPs (request for proposals) to invoicing.
“Digital tools are essential for streamlining coordination, collaboration, budgeting, and staff management while improving real-time communication. With Shoflo, we are well-positioned to deliver even greater value to our customers,” Sifford added. “Our goal has always been to create a software solution that deeply understands the core day-to-day workflows of the event industry and provides highly-tailored solutions built by people who know the industry inside and out. This acquisition is a major step forward in achieving that mission.”
The companies have not disclosed the financial details of the acquisition.
LASSO raised a $5 million Series A round of funding in 2022 from the Emerging Growth Strategy wing of McCarthy Capital, based in Omaha, Nebraska.
The Southeast has become rich ground for EventTech platforms like LASSO and Shoflo. Other startups in the space to follow include Totem (Chattanooga), Eventeny (Atlanta), TixPage (Atlanta), WRSTBND (New Orleans), InEvent (Atlanta), Linxy (Charlotte), Tapn (Atlanta), and Giggs (Nashville).
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Featured photo from LASSO’s LinkedIn page