Tysons Corner, VA
Overall Rank: 2
Category: Event Management
Category Rank: 1
- Top Software Company of 2023
- Power 500 Software Company
Cvent, a global-leading meetings, events and hospitality technology provider, is revolutionizing the way organizations manage and execute their events and drive business impact. With a strong market presence and a customer base that spans across nearly every industry, Cvent has experienced consistent growth over its 23+ year history, achieving impressive milestones in its journey including most recently being acquired by Blackstone, one of the largest private equity firms in the world, for $4.6 billion.
Headquartered in Tysons, Virginia, with 4,800+ employees globally, Cvent was founded in 1999 by Reggie Aggarwal, who continues to serve as the CEO. The company has grown exponentially over the years, helping its 21,000+ customers deliver more than 6 million events since 1999 and generating more than $14 billion of group business volume in 2022 alone, establishing itself as a trusted industry partner worldwide.
The comprehensive Cvent event marketing and management platform offers software solutions to event organizers and marketers for online event registration, venue selection, event marketing and management, virtual and onsite solutions, and attendee engagement. Cvent’s suite of products automate and simplify the event management lifecycle and maximize the impact of in-person, virtual, and hybrid events. Hotels and venues use Cvent’s supplier and venue solutions to win more group and corporate travel business through Cvent’s sourcing platforms.
Cvent offers a comprehensive suite of products designed to streamline and enhance the event management process. Here are some of Cvent’s key products:
- Cvent Event Management is a robust platform that enables event organizers to handle various aspects of event planning and execution. It provides tools for registration management, agenda creation, speaker management, exhibitor management, and attendee engagement. The platform offers a user-friendly interface and customizable features to cater to the unique needs of different types of events.:
- Cvent Attendee Management focuses on delivering exceptional experiences to event attendees. It allows organizers to create personalized registration experiences, facilitate check-ins, and provide real-time updates to attendees.
- Cvent Venue Sourcing simplifies the process of finding and booking event venues. With a vast database of venues worldwide, event organizers can search for suitable locations based on their specific requirements.
- Cvent OnArrival is a mobile event check-in solution that eliminates long queues and ensures a seamless check-in experience for attendees. The platform enables event organizers to set up self-check-in kiosks, scan tickets or badges, and print customized badges on the spot. It also provides real-time attendee tracking and reporting capabilities, allowing organizers to monitor event attendance.
- Cvent Supplier Network is a global marketplace connecting event planners with a wide range of event suppliers, including hotels, restaurants, transportation services, and more.
These are just a few examples of Cvent’s key products. The company offers a comprehensive suite of solutions designed to meet the diverse needs of event organizers and enhance every stage of the event management process.
In order to understand customer perspectives and gather insights on Cvent’s products, we conducted an analysis of various sources, including Software Advice, Capterra, and G2. Here are the key findings based on the reviews from these platforms. On G2, Cvent has received favorable ratings from users. With an impressive average rating of 4.3 out of 5 stars based on 1729 reviews, customers appreciate the platform’s user-friendly interface, advanced event registration capabilities, and powerful reporting functionalities.
On Software Advice, Cvent has received positive feedback from users. With an average rating of 4.4 out of 5 stars based on 800+ reviews, customers appreciate Cvent’s comprehensive event management capabilities. Users highlight the ease of use in creating and managing events, along with the platform’s robust registration management features. Cvent Event Management has garnered a high average rating on Capterra as well. Customers praise the software for its extensive event management tools, including attendee management, session tracking, and event marketing features. The user-friendly interface and customizable reporting capabilities are also mentioned as strengths. The positive reviews highlight the platform’s comprehensive event management features, user-friendly interface, and strong customer support.
- Number of employees: 4,800+
- Number of countries with offices: 11
- Number of customers: 22,000
- Revenue (Q1 23): $166.2 million
- Growth rate: 21% (Q1 2023)
- Net loss was $32.6 million for the first quarter of 2023 compared to $31.4 million in the comparable period in 2022.
- Cash, cash equivalents, and short-term investments as of March 31, 2023, totaled $156.1 million, compared to $140.0 million as of December 31, 2022.
Rating and Commentary
Cvent is a renowned leader in the event management and hospitality solutions industry. Through its comprehensive suite of software products, the company empowers event professionals by streamlining processes, enhancing attendee experiences, and driving overall success. Under the exceptional leadership and strategic direction of Reggie Aggarwal, Cvent has achieved significant milestones, including a successful initial public offering (IPO) in 2013 and subsequent growth in market capitalization.
Backed by prominent investors like Vista Equity Partners and Blackstone Group, Cvent continues to experience remarkable growth. With a workforce of over 4,800 employees and a customer base of 22,000, Cvent stands as one of the largest event technology companies globally. The company’s first-quarter revenue for 2023 reached $166.2 million, representing a remarkable 21.0% increase compared to the same period in 2022. Despite facing competition from companies like Bizzabo, Cvent’s dedication to innovation and staying ahead of the curve have propelled its growth. The impressive revenue growth and valuation of Cvent are a testament to its market dominance and ability to consistently deliver value to its customers. Cvent is well-positioned to continue its successful trajectory.
Reggie Aggarwal, CEO & Founder
Reggie Aggarwal, the visionary founder, and CEO of Cvent, has over 20 years of experience in the event management industry. Under his leadership, Cvent has become a global leader in event technology solutions, serving thousands of customers worldwide. Reggie’s exceptional leadership and strategic direction have resulted in significant milestones for Cvent, including its successful initial public offering (IPO) in 2013 and subsequent growth in market capitalization.
David Quattrone, Chief Technology Officer
David oversees a global technology and product team with over 1,600 employees. Under his direction, the team continues to expand and improve Cvent’s robust event marketing and management platform and to deliver product enhancements that drive adoption, usability, and customer satisfaction across Cvent’s extensive product portfolio.
Patrick Smith, SVP & Chief Marketing Officer
Patrick Smith is a seasoned marketing executive with a deep understanding of the event management industry. As Cvent’s SVP & CMO, he leads the global marketing strategy, brand positioning, and customer engagement efforts. With over 15 years of experience in B2B technology marketing, Patrick has successfully developed and executed innovative marketing campaigns that have strengthened Cvent’s market presence and supported its customer acquisition and retention initiatives.
Stacey Fontenot, SVP Marketing
Stacey Fontenot is Senior Vice President of Marketing at Cvent. Since joining Cvent in 2014, Stacey has been instrumental in Cvent’s growth and has led numerous marketing functions such as Product Marketing, Demand Generation, Customer Marketing, and Corporate Marketing. She has helped solidify Cvent’s market-leading position in the event technology industry.
Cvent fosters a dynamic, inclusive organizational culture that values innovation, collaboration, and employee development. The company is committed to creating a supportive work environment where employees can thrive and contribute to the company’s success.
Cvent’s Glassdoor reviews provide insights into the company’s culture, with employees highlighting positive aspects such as a strong sense of teamwork, a passion for innovation, and a commitment to excellence. The company maintains an impressive overall rating on Glassdoor, reflecting the satisfaction of its employees.
Cvent also places significant emphasis on professional growth and development. The company provides employees with ample opportunities to expand their skills and knowledge through training programs, mentorship, and career advancement initiatives. Employees are encouraged to take ownership of their career paths and are supported in their professional aspirations.
Cvent’s culture promotes open communication and collaboration across teams and departments. The company values diverse perspectives and encourages employees to share ideas, provide feedback, and contribute to the organization’s overall success. Regular team-building activities, town hall meetings, and cross-functional projects foster a sense of camaraderie and collaboration among employees.
The company’s commitment to a positive work environment is further evident through its employee benefits and perks.
Cvent’s Board of Directors comprises accomplished individuals with diverse backgrounds and expertise. The board plays a crucial role in guiding the strategic direction of the company. Here are three notable board members of Cvent:
Reggie Aggarwal: With over two decades of experience in the event management industry, Reggie has been instrumental in leading Cvent’s growth and innovation. Under his leadership, Cvent has become a global leader in event technology solutions.
David Quattrone: With a strong background in finance and technology, David brings valuable insights and strategic guidance to the company. He has played a pivotal role in shaping Cvent’s financial strategies and operational excellence.
Jim Frankola: From October 2012 to October 2021, Mr. Frankola was Cloudera’s CFO. Mr. Frankola oversaw finance, accounting, data, and IT. Since March 2021, Mr. Frankola has been a Director of multiphysics engineering simulation software company Ansys and a Strategic Advisor to Cloudera. Mr. Frankola earned a B.S. in accounting from Penn State University and an M.B.A. from NYU Stern.
Blackstone Group: In recent news, Cvent has announced a major development regarding its ownership. The Blackstone Group, a leading private equity firm, has entered into an agreement to acquire Cvent in a deal valued at $4-6 billion. This transaction will take Cvent private once again and is expected to provide significant opportunities for Cvent’s continued growth and expansion.
Vista Equity Partners: Vista Equity Partners, a leading investment firm focused on software, data, and technology-enabled businesses, acquired Cvent in 2016. This acquisition facilitated Cvent’s transition to a privately held company and provided the resources and expertise to further accelerate its growth trajectory.
New Enterprise Associates (NEA): NEA, a global venture capital firm, has been a key investor in Cvent since 2011. With a strong track record in supporting high-growth technology companies, NEA’s investment has provided Cvent with strategic guidance and capital to drive innovation and market expansion.
- Acquisition by Blackstone: Buyout firm Blackstone Inc agreed to purchase U.S. cloud-based event-software provider Cvent Holding Corp in a deal valued at $4.6 billion in 2023
- Jifflenow Announces Cvent Partnership To Connect Virtual Event & Meeting Metrics in 2023
- Cvent and MeetingPackage Announce Global Integration Partnershipin 2023
- Recognition and Awards: Cvent has received numerous accolades and industry recognition for its contributions to the event management space. This includes the Top 100 Software Product by G2 in 2023, 2022 Top Workplace by The Austin American-Statesman.
- Virtual Event Platform Launch: In response to the COVID-19 pandemic, Cvent launched its virtual event platform in 2020. This platform enabled organizations to seamlessly transition their in-person events to virtual formats, ensuring business continuity and engagement with their audience during challenging times
- Acquisition of DoubleDutch: In 2019, Cvent acquired DoubleDutch, a mobile event app and registration platform. This strategic acquisition expanded Cvent’s capabilities in the mobile event technology space, allowing them to offer enhanced attendee engagement and personalized experiences.
News and Press Releases
- May 8, 2023: Cvent Announces First Quarter 2023 Financial Results (Read)
- May 8, 2023: Cvent Holding earnings missed by $0.10, revenue topped estimates (Read)
- March 14, 2023: Cvent Announces Fourth Quarter and Fiscal Year 2022 Financial Results (Read)
- Feb 17, 2023: How Cvent lowers carbon emissions and provides sustainable meeting options using AWS (Read)
- Aug 5, 2022: Cvent Continues Revenue Growth Momentum in Q2 (Read)
Bizzabo: Bizzabo is a leading competitor in the event management software space. With a focus on personalized event experiences, Bizzabo has established a strong presence. Their revenue exceeds $20 million, highlighting their solid financial performance. Bizzabo’s features include registration management, event website creation, networking tools, and real-time analytics. The platform’s emphasis on attendee engagement and personalized event experiences has earned it a loyal customer base.
Hopin: Hopin has emerged as a prominent competitor, offering a virtual event platform. Known for its innovative features and user-friendly interface, Hopin has achieved a valuation of $5.65 billion, demonstrating substantial growth and investor confidence. The platform offers interactive networking opportunities, live streaming capabilities, and customizable event experiences. Hopin’s user-friendly interface and focus on creating engaging virtual events have contributed to its popularity among event organizers.
BrightTALK: BrightTALK is a significant player in the webinar and virtual events domain. With around 170 employees, the company reported an estimated revenue of $6.5 million in 2022. BrightTALK’s steady growth positions it as a critical competitor to Cvent.
These competitors and others in the market present opportunities and challenges for Cvent. Continued innovation, product quality, and leveraging its market presence are crucial for Cvent to maintain a competitive edge.
Cvent is committed to corporate responsibility and strives to make a positive impact on society and the environment. The company’s initiatives focus on various areas, including sustainability, community engagement, and employee well-being.
One of Cvent’s key initiatives is outlined in their “Together We Will Thrive” program. This program aims to promote sustainability practices within the organization and contribute to a greener future. Through energy conservation, waste reduction, and responsible procurement, Cvent actively works towards minimizing its environmental footprint.
Cvent also emphasizes community engagement by supporting local nonprofits and charitable organizations. Their efforts include volunteering, fundraising events, and donation drives. By giving back to the community, Cvent demonstrates its commitment to social responsibility. Furthermore, Cvent prioritizes employee well-being by fostering a positive work culture and providing opportunities for professional growth. The company encourages diversity and inclusion, ensuring equal opportunities for all employees.
Cvent’s dedication to corporate responsibility showcases its commitment to sustainable practices, community involvement, and employee welfare. By integrating these values into its operations, Cvent strives to create a positive impact beyond its business offerings.