Case Study / Investing in the Entrepreneurial Spirit

Investing in the Entrepreneurial Spirit

Endorsements presented herein are made by current or former employees of Vista portfolio companies, over which Vista may have the ability to exercise discretion on employee compensation, promotion and other employment decisions.

Cvent found an investor who valued measured, strategic growth.

From coordinating vendors to registration and marketing, event planning was an imperfect science until Cvent entered the market. Nearly two decades ago, Founder and CEO Reggie Aggarwal built an online app to organize a networking group for tech CEOs.

Today, the company has more than 15,800 customers across all verticals. Cvent’s software solutions are used to plan approximately 350,000 events each year. With the Cvent platform, planners and venues have access to end-to-end event management functionality, including budgeting, planning and marketing.

Cvent, which went public in August 2013, generated a lot of investor attention when the company decided to go private three years later. Although Aggarwal had various capital options, he ultimately determined that Vista was the best choice not just for his company at that moment, but in the future as well. Aggarwal realized that the Vista team was very similar to his own – they shared an entrepreneurial spirit. He knew that with this shared mindset and desire to embrace innovation and continuous improvement, Cvent would continue growing at a rapid pace.

Aggarwal and his team also appreciated the speed at which the Vista deal team operated during the closing process. “They’ve worked with hundreds of companies, so when it comes to solutions and processes, they know what they’re talking about, and they have the track record to back it up,” Aggarwal said. Vista remained transparent and efficient during due diligence, which helped minimize any disruptions to the business and Aggarwal’s team.

Since joining Vista, Aggarwal describes his experience as becoming part of a family. He takes the opportunity to connect with other Vista portfolio company CEOs and executives to get various perspectives and advice on how to maintain a high-growth company. Cvent has grown faster since the Vista partnership, driven in large part by market and international expansion, which has opened the company up to new talent and customer bases. For example, Vista-backed investments helped the company establish a presence in Australia and Singapore; Germany and Japan are next on the list.

According to Aggarwal, strategic growth has always been an important part of the Cvent culture. When deciding on an investment partner, he wanted to ensure they could maintain and invest in their measured approach to growth. With Vista as a partner, the Cvent culture has remained intact while the company continues to grow and increase its market share.

Please see the “Case Studies” section of the Disclosures page for important information about these Case Studies.

Vista gives you the freedom to run your business but also provides a steady hand to help you scale and grow it.

Reggie Aggarwal, Founder and CEO, Cvent

Details

Year of Investment: 2016
Portfolio Status: Current
Headquarters: Tysons Corner, VA
Website: cvent.com

Enterprise event management platform with solutions for both the events and meetings value chain.

Cvent is a leading cloud-based provider of event management technology solutions. The Company’s platform offers end-to-end event management functionality, including budgeting, planning and marketing for both sides of the event ecosystem (planners and venues). Cvent’s products are used by over 15,800 customers across all verticals. The Company’s solutions are used to plan approximately 350,000 events each year.

Cvent is headquartered in Tysons Corner, VA.

Vista Equity Partners Fund VI completed a take-private of Cvent in November 2016.