VMO Rocks, an online platform that allows Malaysians to book event venues and services for free, will look to further expand its business after securing funding from regional food and beverage company Rhombus Food Holding (RHF).
The company’s spokesman declined to reveal specific amount it received from the funding, but told A+M when contacted - that is in the range of six figures and the investment was "strategic".
Officially launched in March this year, VMO has booked close to RM700,000 worth of events, with an average of over RM4,000 per booking, over a 15-month period since May 2015, said the company. It added that the Malaysian-based startup said it looks to fill a gap in the events industry by helping people find the perfect space or service for birthdays, corporate launches, weddings and other events and booking them instantly via its website.
VMO’s chief eventgelist, Vincent Kok said RFH’s investment is a validation of VMO’s mission to help Malaysians experience a new way to discover, compare and book event spaces.
“We shall be using the investment to upgrade and expand our coverage in the Klang Valley and extend services to major cities such as Penang, Johor Bahru and Melaka. This will further allow us to help venue owners promote their space for the right type of event, connect them with the right clients and simultaneously help them save time and grow their revenue,” Kok said.
VMO currently lists over 650 event venues and services, with almost 20% of them being instantly bookable online. Users need to input the event type or location for venues and services supplied by listed vendors in Kuala Lumpur and Ipoh. They can either opt to make an instant booking or receive a quotation before paying directly via credit card or PayPal.
In statement, VMO's spokesman said RFH, which operates eateries such as Rama V, Wondermama and Dancing Fish, invested in the company after it successfully and continuously generated a steady stream of bookings to their restaurants.
“We see digital channels as a way of extending customer touch points beyond the food hall,” said RFH's group CEO Tham Lih Chung.
“As an innovative F&B group, RFH is always on the lookout for opportunities that bolster our ecosystem, and we are confident that VMO will add further value to our stakeholders and customers and grow our business.”
RFH is a regional F&B owner and operator with 13 brands under its belt. The company, launched in 2015, said it aims to become a diversified and influential conglomerate in Southeast Asia by empowering local entrepreneurs and nurturing growth in talent and businesses within the industry.