Cvent on Track to Grow 40% in 2012, Launches 56,000 Events in First Half of 2012

MCLEAN, Va., July 27, 2012 /PRNewswire/ -- Cvent, the leader in cloud-based event management solutions, announced today that the company has experienced a period of remarkable growth in the first half of 2012. Cvent is on track to increase revenue 40% in 2012 and launched 56,000 events. The company also signed more than 1,400 new clients during that period and became the world's largest mobile event applications provider through two key acquisitions, the first in its 12-year history.

New clients include prestigious groups such as Toshiba, Deloitte & Touche, United States Air Force Academy, Edelman Financial, The Milken Institute, State Street Corporation, Booz Allen Hamilton, and Boston Scientific. The company also recently announced that its solution is now fully integrated with top CRM platform Salesforce.com and is available at Salesforce.com's AppExchange to enable easy data flow between the two systems.

At the end of second quarter, Cvent acquired CrowdCompass, a business event mobile app specialist, and Seed Labs, an innovative consumer event app developer, which was subsequently rebranded as CrowdTorch. The company's strong growth trajectory and top market share in the mobile event app space solidify Cvent's leadership in the event management industry.

"Cvent continues to invest heavily in growing our business. Our sales growth will fuel hiring for client services and product development," said Chuck Ghoorah, Cvent's co-founder and Executive Vice President of Sales & Marketing. "We continue to look at developing new tools for meeting planners to take their meetings and events to the next level."

To handle the sharp increases in sales, events and clients and retain the customer focus and innovation that underlie the company's success, Cvent has added 130 net new employees in the first two quarters of 2012 (not including employees hired via acquisitions), and now employs over 1,000 people. The company's strong performance in an uncertain economic climate demonstrates the power of innovation and customer value delivery. To find out more about Cvent, please visit the company's website.

About Cvent

Founded in 1999, Cvent is the world's largest meetings and event management technology company and has over 1,000 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 over 10,000 clients in 90 countries manage hundreds of thousands of events, surveys and e-mail campaigns. The company has processed over $2.5 billion in online payments and has managed over 30 million event registrations and survey responses for its clients. Cvent's client base ranges from small non-profits to large corporations, and includes over 30 companies from the Fortune 100. For more information, please visit www.cvent.com.

SOURCE Cvent