Cvent Posts Record-Setting Sales in 2009

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Technology Enhancements Help Bring In Over 3,500 New Clients

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Cvent went into 2009 cautiously, but confident in our mission: to grow sales in the face of the recession. Not only did we grow sales, but we had a record-setting year.

Cvent, the leading provider of meeting and event management, venue sourcing, web surveys, and strategic meetings management technology, announced a 33% year-over-year sales increase in 2009, making it the company’s highest-grossing year.

Chuck Ghoorah, Cvent’s Co-Founder and Executive Vice President of Sales and Marketing, says, “Cvent went into 2009 cautiously, but confident in our mission: to grow sales in the face of the recession. Not only did we grow sales, but we had a record-setting year. While 2009 was a tough year economically, Cvent is no stranger to challenging times. We started our company at the height of the dot com craze in 1999. But Cvent’s strong foundation and our continuing success stems from the lessons we learned during the ensuing dot com meltdown. No matter what the economic climate, we listen to customer wants and deliver a product with great value – something that is worth investing in even when budgets are extremely tight. Since learning these lessons in our formative years, we have exceeded our goals every year. We’re thankful to all of our partners and clients who have helped us grow into the industry leader.”

Despite the meetings and events industry being severely hindered by the downturned economy, Cvent signed over 3,500 new clients in 2009, including new event management clients such as Corporate Executive Board, the Prudential Insurance Company of America, Barnum Financial Group, Georgetown University, and Educational Testing Services. Cvent’s web survey division also had a successful year in 2009, signing new client organizations including the United States Olympic Committee, HSBC, JetBlue Airlines, and Columbia University.

In 2009, Cvent made significant upgrades to its online sourcing and electronic Request for Proposal (eRFP) tool, the Cvent Supplier Network, growing the network to include over 100,000 event venues worldwide. New marketing clients on the Cvent Supplier Network in 2009 included Marriott, Starwood, Hyatt, Kimpton, and dozens of other hotel chains across the globe. Additionally, Cvent bolstered its new Strategic Meetings Management (SMM) solution to help travel and procurement professionals reign in meeting spending across large organizations. These enhancements, combined with upgrades to Cvent’s event management and web survey software, secured Cvent’s place in the market as the most comprehensive meetings technology solution for organizations of any size.

To learn more about Cvent’s recent growth and the company’s mission, watch the Cvent Company Video.

About Cvent:
Founded in 1999, Cvent has over 500 employees worldwide. Cvent offers web-based software solutions for the meetings and communication industry with features including online event registration, attendee management, event website creation, site selection & sourcing (eRFP) and web surveys. Cvent helps over 35,000 users in 29 countries manage 200,000 events, surveys, and email campaigns annually. Cvent's application has processed $1 billion in online payments and has managed over 10 million registrations and survey responses for its clients. For more information on Cvent's web-based software, please visit http://www.cvent.com.

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