USA - Online event management and web survey provider Cvent has secured $136m funding for new technologies from New Enterprise Associates and Insight Venture Partners.
This funding is the first in over a decade at Cvent, which is gearing up to create more than 200 new jobs over the next 12 months, with at least half of these being engineers to boost product development.. The investment will also be used to continue the company's global expansion and help with potential acquisitions.
“It’s rare to find a company that is consistently profitable and poised to capture even more market share,” said Tony Florence, a partner at New Enterprise Associates. “We see tremendous potential at Cvent, especially for its Supplier Network which helps event planners find and do business with hotels, special event venues and restaurants.”
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