Cvent Strengths, Domain Expertise, and Key Differentiators
The extensive Cvent event marketing and management platform provides a range of software solutions tailored for event organizers and marketers. These offerings encompass online event registration, venue selection, event marketing and management, as well as virtual and onsite solutions, and attendee engagement features. Cvent's suite of products is designed to automate and streamline the event management lifecycle, optimizing the impact of in-person, virtual, and hybrid events alike.
In addition, hotels and venues leverage Cvent's supplier and venue solutions to enhance their competitiveness and secure more group and corporate travel business through Cvent's sourcing platforms. By optimizing the event management value chain, Cvent solutions have facilitated clients worldwide in efficiently managing millions of meetings and events.
Cvent Recent Developments
In July 2023, Cvent introduced its latest innovation, the Cvent Events+ solution, at Cvent CONNECT in Las Vegas. Positioned as a pivotal component within Cvent's acclaimed event marketing and management platform, Events+ facilitates continuous engagement with event audiences throughout the year. By harnessing the power of video, this solution empowers users to enhance their event marketing strategies significantly.
Events+ seamlessly integrates with Cvent Registration, the Cvent Attendee Hub, and Cvent Webinar, ensuring a cohesive and streamlined event experience. Its robust cross-promotion tools serve to boost visibility, registrations, and attendance across the entire event program. Additionally, Events+ features an innovative functionality that allows logged-in guests to view the attendance plans of their prior event connections, fostering deeper engagement and networking opportunities.
Cvent Mergers and Acquisitions (M&A) Activities
In January 2024, Cvent completed the acquisition of Jifflenow, a B2B 1:1 and group appointments scheduling solution, along with iCapture, a lead capture solution. These strategic acquisitions mark a significant expansion of Cvent's event marketing and management platform, enabling the company to offer enhanced solutions aimed at assisting organizations in maximizing their trade show impact. With these additions, Cvent empowers organizations to facilitate meetings and appointments with their most valuable customers and prospects, augment the number of event leads generated, and improve the qualification and conversion of trade show leads.
Cvent Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Cvent applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Cvent and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified CrowdCompass by Cvent, Cvent Conference Management, Cvent Hospitality Cloud , Cvent Meetings Management Software , Event Cloud Management Platform , Inquisium (Cvent Web Surveys) customers.
Cvent Overview
1765 Greensboro Station PL 7th floor
Tysons Corner, VA, 22102, United States
1 866-318-4358
https://www.cvent.com/
Ownership: - Blackstone Inc.
Number of Employees: 4800
Functional Markets: Collaboration,
Key Verticals: Banking and Financial Services, Communications, Consumer Packaged Goods, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Professional Services, Retail,
Cvent Key Enterprise and Cloud Applications
CrowdCompass by Cvent, Cvent Conference Management, Cvent Hospitality Cloud , Cvent Meetings Management Software , Event Cloud Management Platform , Inquisium (Cvent Web Surveys)
Cvent Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Cvent Revenue Breakdown By Type, $M:
Cvent Enterprise Applications Revenues By Functional Markets, $M:
Cvent Enterprise Applications Revenues By Verticals, $M:
Cvent Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Cvent Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Cvent Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Cvent Customers
No. of Cvent Customers: 22000
No. of Cvent Enterprise Applications Customers: 22000
No. of Cvent Cloud Customers: 22000
No. of Cvent Cloud Subscribers: 300000
As of December 2023, Cvent boasts a global workforce of over 4,800 employees and serves approximately 22,000 customers worldwide.
Cvent's distinguished clientele includes esteemed organizations such as Juniper Networks, Kaiser Permanente, Penn State University, SiriusDecisions Inc., RE/MAX, LLC, The Boeing Company, The Washington Post, Walmart, Verifone, Paychex, Biogen Idec, Huron Consulting Group, Baxter Healthcare, the Fairfax County Chamber of Commerce, Milken Institute, Nantucket Wine Festival, Stella&Dot, TATA, and the Houston Livestock Show and Rodeo, among numerous others.
Cvent Market Opportunities, M&A and Geo Expansions
In May 2023, Cvent introduced its AI Writing Assistant, a groundbreaking tool seamlessly integrated into the Cvent platform. This innovative solution harnesses the capabilities of generative AI to streamline the content creation process, empowering event professionals and marketers to efficiently generate on-brand, captivating event content. Representing an expansion of Cvent's evolving suite of AI-driven products, the AI Writing Assistant complements existing features such as session and attendee recommendations.
Employing state-of-the-art natural language processing technologies, Cvent's AI Writing Assistant assists teams in crafting compelling content for various purposes, including event emails, event websites, session descriptions, request for proposal (RFP) responses for venue sourcing, and more.
In mid-2023, Blackstone finalized the acquisition of Cvent for $8.50 per share in cash, culminating in a total enterprise valuation of approximately $4.6 billion. This transaction, initially disclosed on March 14, 2023, involves a noteworthy minority investment from a wholly-owned subsidiary of the Abu Dhabi Investment Authority, along with the involvement of existing stockholder Vista Equity Partners. Consequently, trading of Cvent's common stock has ceased, and it will be delisted from the Nasdaq Stock Market.
Cvent Risks and Challenges
Acquisitions also carry the potential risk of unforeseen legal liabilities, including potential violations of applicable laws or industry regulations. These liabilities may arise from prior or ongoing acts or omissions by the acquired businesses, which might not have been identified during the due diligence process of the acquisition.
Cvent Ecosystem, Partners, Resellers and SI
Cvent employs a global sales strategy through a direct sales model, comprised of both field and inside sales professionals. Within the Event Cloud division, Cvent has specialized teams catering to various market segments, including Enterprise, Mid-Market Corporate, Mid-Market Government, Association, Non-Profit, Education (GANE), and Third-Party Partners. Each team operates across four tiers, delineating the representatives' seniority level, territory size, and annual sales quota.
Similarly, within the Hospitality Cloud division, Cvent maintains distinct teams such as Strategic Accounts, Territory, and Unique Venues. Despite the differing focuses, the sales model remains consistent across both Event Cloud and Hospitality Cloud. Direct Sales Representatives primarily function as hunters, responsible for acquiring new business, while Sales Development Representatives collaborate with them to schedule appointments with qualified prospects.
Among Cvent partners are Microsoft, Salesforce, Webex, Eloqua, Newmarket International, GetThere, Concur Cliqbook Travel, Passkey, VeriSign, PayPal, Authorize.Net, CyberSource, Moneris Solutions, and TouchNet.
Cvent Cloud Infrastructure Insights
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- Cvent Public Cloud and Infrastructure (IaaS)
- Cvent Platform (PaaS)
- Cvent Application Delivery
- Cvent Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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