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."
About Cvent, Inc.
Cvent, Inc. is a leading meetings, events, and hospitality management technology provider with more than 3,500 employees, 25,000 customers, and 300,000 users worldwide. The Cvent Event Cloud offers software solutions to event planners and marketers for online event registration, venue selection, event management and marketing, onsite solutions, and attendee engagement. Cvent’s suite of products automate and simplify the planning process to maximize the impact of events. The Cvent Hospitality Cloud partners with hotels and venues to help them drive group and corporate travel business. Hotels use the Cvent Hospitality Cloud’s digital marketing tools and software solutions to win business through Cvent’s sourcing platforms and to service their customers directly, efficiently and profitably – helping them grow and own their business. Cvent solutions optimize the entire event management value chain and have enabled clients around the world to manage hundreds of thousands of meetings and events. For more information, please visit Cvent.com, or connect with us on Facebook, Twitter or LinkedIn.