Cvent Continues Tremendous Growth, Increasing Revenue 37 Percent in Q3 2010
Strong Industry Demand Drives Addition of Over 750 New Clients during Strongest Quarter Yet
McLean, VA — October 27, 2010 - Cvent, the world's largest provider of online event management, meeting site selection and web survey solutions, today announced that Q3 2010 was the company's most successful quarter to date. Driven by new and expanded event management contracts with global Fortune 500 companies, new venue and destination marketing agreements on the Cvent Supplier Network, and unprecedented adoption of its web survey tool, Cvent experienced year-over-year Q3 revenue growth of 37 percent. Cvent's year-to-date revenue has grown a consistent 37 percent over the same period in 2009.
Among the more than 750 new customers Cvent brought on board in Q3 are almost 300 event management clients, including The Coca-Cola Company, Reed Elsevier, ADT Security Services, and RE/MAX. Cvent's web survey product line also experienced exceptional growth in Q3, with sales up 60 percent over the same period in 2009. Cvent's new survey customers include Sam's Club, Harvard Medical School, Medtronic and The Nielsen Company, among others. In addition, more than 330 venues and destinations signed on for Cvent Supplier Network marketing packages in Q3.
"Q3 was a marquee quarter for Cvent," said Chuck Ghoorah, Cvent's Co-Founder and Executive Vice President of Sales and Marketing."More meeting professionals than ever are looking to online technology solutions to conduct business, and as Cvent has become the market leader in event management software, adoption of our solutions has picked up tremendously. We are on track to surpass the aggressive growth goals we set for 2010."
Founded in 1999, Cvent is the world's largest meetings and event management technology company and has 1,200 employees worldwide. Cvent offers web-based software for online event registration, meeting site selection, event management, mobile apps for events, e-mail marketing and web surveys, and helps more than 10,000 clients in 90 countries manage hundreds of thousands of events, surveys and e-mail campaigns. Cvent's client base includes corporations from every major industry, associations, universities, and non-profit organizations. For more information, please visit www.cvent.com, or connect with us on Facebook, Twitter or LinkedIn.