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This year is slated to be the So while venture funding to wedding-related startups has been on the decline in recent years, that could change as many more couples tie the knot.

Funding to VC-backed startups in the wedding category over the past decade peaked in 2018, when companies in the space raised聽 $543 million. A big factor then was that two of the most prominent players in the category鈥� and 鈥攔aised very large rounds.

But since then, funding to the category has steadily declined, with wedding planning tools like , WeddingWire and Zola continuing to dominate the area of helping couples manage RSVPs, gift registries and communication with guests.

Last year, VC-backed companies raised only around $30 million, 小蓝视频色情网页版 data shows, with wedding planning app 鈥檚 $20 million Series A leading the pack.

But while funding鈥檚 been on the decline, Joy CEO pointed out that weddings, unlike other events, don鈥檛 get simply canceled鈥攖hey get postponed. And the wedding category is an older one, and the older the category, the harder it is to disrupt. Once there鈥檚 a breakout success, the funding usually follows.

鈥�(The high number of weddings) will be the new elevated normal for the next five to 10 years, which does mean more business, and if VCs can picture the future state of weddings, more funding too,鈥� Joshi said.

Wedding industry ripe for disruption

The wedding industry was hit particularly hard during the pandemic, after stay-at-home orders and social distancing guidelines made it virtually impossible to hold large events. While 鈥� weddings鈥� and micro-weddings still occurred, many couples opted to postpone their in-person nuptials until 2022 or 2023, or to host a larger celebration in the future after legally tying the knot.

Around 2.5 million weddings are expected to occur just this year in the U.S., according to

The industry is also playing catch-up to other areas of life in terms of digitization and communication, according to Joshi.

鈥淭he way we communicate with our friends and family is not how we communicate with wedding vendors. The way we buy clothes is not how we buy wedding apparel. The way we manage projects is not how we manage the biggest event of our lives,鈥� Joshi said. 鈥淲edding technology is decades behind the state of our modern lives, and I see a ton of innovation happening in bringing wedding planning to the 21st century.鈥�

Although the wedding business has been around as long as people have tied the knot, it hasn鈥檛 seen that much tech innovation, which makes a certain sense鈥攊t鈥檚 an industry that鈥檚 based on tradition, after all. Vendors still rely heavily on word-of-mouth referrals, wedding attire is still very customized (at least for women), and much of the planning is still done over email or the phone. Many couples even still rely on snail-mail invitations and RSVPs.

鈥淭he industry itself is just so traditional and not a lot has changed over time,鈥� said co-founder and chief marketing officer at artificial flower rental startup 鈥淪ure, some of those Zola platforms have come and revolutionized the planning experience. But from a vendor perspective the planning process has remained pretty consistent over the years. So I think the more technology that can be brought to the industry to enhance the overall planning experience, that鈥檚 what’s needed and where we鈥檒l see the industry take off in the future.鈥�

Wedding startups: Where the money鈥檚 going

Within the wedding space, VC funding in the past two years has mostly gone to an array of event-planning platforms including Joy, and . But companies in other areas of the industry, such as floral and event decor rental platforms and direct-to-consumer bridesmaid dresses (think and ), have also garnered interest from VCs.

Some of the tools in that bucket include , which digitizes how wedding vendors accept contracts and payments, and venue management system .

Something Borrowed Blooms, which provides high-quality artificial bouquets and other floral decor for rent, has raised $2.6 million so far, per 小蓝视频色情网页版 data. The company plans to pick up fundraising as it experiences record-breaking sales, according to CEO . She聽 said her startup is currently shipping orders for 1,000 weddings per month, but expects it to be closer to 2,000 weddings per month by the end of the year.

The company鈥檚 main value proposition is cost savings and sustainability. The company says couples can save up to 70% compared to fresh flowers when renting its florals.

Bercier said the company has been conservative with its fundraising so far, but hasn鈥檛 had a problem attracting investment when it鈥檚 needed, at the terms it was seeking. And with so many weddings on the horizon and couples looking to save money where they can, there will likely be more wedding-related companies raising money.

鈥淲e do plan to get more aggressive and fundraise next year,鈥� Bercier said. 鈥淏ut I would say the industries seeing this boom鈥攎ore investments will be happening to support that.鈥�

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