Record Sales, New Headquarters and Significant Staff Growth in Q3 2005
40% Increase in Sales and 33 Consecutive Months of Positive Cash Flow
ARLINGTON, VA – November 29, 2005 - Cvent, Inc., the leader in web-based event registration, email marketing, and housing and travel solutions, announced another record quarter ending September 30, 2005, with sales increasing 40% over the third quarter of 2004. Cvent Inc., a privately held company, is one of the only software providers in the event registration space that is profitable and has 50% growth year over year.
Cvent signed contracts with over 300 customers during the quarter. New customers include YMCA of the USA, Juniper Networks, American Airlines, Baltimore Symphony Orchestra, International Paper Company, Houston Rockets, and Pulte Homes.
During the quarter Cvent doubled the size of its customer care staff and account management team.
Cvent signed a lease to relocate its corporate headquarters during Q1 2006 to Class A office space in McLean, Virginia, doubling the size of its current office space.
Chuck Ghoorah, Executive Vice-President of Sales and Marketing said, “Cvent has managed to maintain a very profitable business model for 11 quarters in a row. As our business continues to grow, we are making sure that our infrastructure scales alongside our success. I am especially pleased that the doubling of our customer facing staff will ensure that our users receive the best-in-class service that the industry has to offer.”
Media Inquiries Contact:
Eric Eden
Vice President Marketing
703-226-3558
