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 cloud-based enterprise event management company, with tens of thousands of customers and more than 2,700 employees worldwide. Cvent offers software solutions to event planners for online event registration, venue selection, event management, mobile apps for events, email marketing, and web surveys. Cvent provides hoteliers with an integrated platform, enabling properties to increase group business demand through targeted advertising and improve conversion through proprietary demand management and business intelligence solutions. 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.