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Banzai International, Inc. (NASDAQ:BNZI), a leading marketing technology company providing essential marketing and sales solutions, announced exceptional customer growth in Q1 2024. Banzai added over 580 customers in Q1 2024. Of this, 400 were net new customers and 180 were reactivating customers since January 1, 2024, highlighting the effectiveness of Demio, Banzai's webinar platform, and Reach, the company's event marketing solution.
Banzai's new customer acquisition represents a quarterly increase of 46% compared to the 397 net new and reactivating customers Banzai added in Q4 2023. The majority of this increase was driven by growth in the Demio business unit, with additional momentum from sales and marketing execution in the Reach business unit.
Banzai's newly added Q1 customers include Cisco, a Fortune 500 networking and security technology company; LoanDepot (NYSE:LDI), a publicly-traded online mortgage broker; Enovis (NYSE:ENOV), a leading medical technology company; Fluence, a Siemens and AES Company; Onsi, a leading financial technology company; G&H (AIM: GHH), a global leader in photonic engineering; and Esper, a Deloitte Fast 500 device management company.
In addition, Banzai signed upgrades with customers including Globe Life, a Fortune 1000 life insurance company; Western States Equipment Company, a 70-year-old northwest construction equipment company; Spamedica, a major UK-based ophthalmology services provider, and Copy.ai, a fast-growing generative AI startup.
"Our team's first-quarter achievements underscore Banzai's commitment to delivering exceptional value to our customers, as well as expanding the makeup of our customer base across industries and further up-market," said Joe Davy, Chairman and CEO of Banzai. "We're thrilled by the momentum we've achieved so far this year, which positions us for sustained growth throughout 2024."
In addition to Banzai's customer acquisition efforts, the company is still engaged in the potential acquisition of Boast, IGLeads and Cliently, for which the company previously announced non-binding letters of intent. These acquisitions would support Banzai's vision of helping marketers acquire, engage, analyze and enrich their pipeline through an integrated family of data-driven products and tools.
Banzai also launched Demio AI Moderator, a pioneering AI-powered chat feature enabling marketers to transform videos into interactive experiences with a seamless integration into the on-demand webinar chat experience.
Amidst rising demand for increased audience acquisition, the company also significantly expanded Reach, its event marketing solution aimed at boosting event registration with personalized multi-channel campaigns. The expansion includes creating a dedicated business unit to better support and acquire Reach customers with the addition of dedicated sales resources to support customer acquisition. Banzai also invested in new technology development and systems integration to improve customer results and operating efficiency.
To learn more about Banzai and its catalog of marketing technology solutions, visit banzai.io.
