Cvent, a Tyson, VA-based technology provider specializing in meetings, events, and hospitality, has acquired Reposite, a New York City-based AI-powered online vendor and supplier sourcing platform.
Key Highlights:
- Deal Details:
- Acquisition Amount: Not disclosed
About Reposite:
- Founders:
- Alexa Berube
- Heather Stupi
- Product Offering:
- Platform: An online sourcing platform designed to simplify the vendor and supplier sourcing process for meetings, events, and travel professionals.
- Features:
- Curated supplier database across ten categories including restaurants, transportation, entertainment, staffing, and activities.
- AI-powered supplier and vendor matching technology.
- Centralized workspace for managing vendor communications, quotes, proposals, and payments.
About Cvent:
- Leadership:
- CEO and Founder: Reggie Aggarwal
- Company Overview:
- Employees: 4,800+
- Customers: ~22,000 as of December 31, 2023
- Founded: 1999
- Product Offering:
- Platform: A comprehensive event marketing and management platform.
- Solutions:
- Online event registration
- Venue selection
- Event marketing and management
- Virtual and onsite solutions
- Attendee engagement
- Marketplace: A global platform for collaboration between event professionals and venues.
- Automation: Tools to simplify and optimize the event management lifecycle for in-person, virtual, and hybrid events.
Benefits of Acquisition:
- Enhanced Vendor and Supplier Sourcing:
- Broadened Supplier Discovery and Coordination: Expanding the range of suppliers and vendors accessible to event professionals.
- AI-Powered Supplier and Vendor Matching: Leveraging Reposite’s AI technology to improve the efficiency and accuracy of matching suppliers with event needs.
- Streamlined Planning: Simplifying the end-to-end process of group and event planning with integrated solutions.
Cvent’s acquisition of Reposite aims to bolster its capabilities in vendor and supplier sourcing, providing event professionals and third-party planners with enhanced tools for discovering and coordinating suppliers. This strategic move aligns with Cvent’s mission to deliver comprehensive solutions that facilitate seamless event management and elevate the overall event planning experience.
