Cvent announced that it was named to Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing companies in North America.
Rankings are based on percentage of fiscal year revenue growth from 2006–2010, during which Cvent grew 276 percent.
Cvent’s five-year compound annual growth rate is 42 percent.
Additionally, in the first three quarters of 2011, Cvent grew its revenue by almost 40 percent over the same time period last year and signed more than 2,100 new customers, including Visa, True Value Corporation, Bacardi, The Home Depot Foundation and US Foods.
Cvent has also added 158 net new employees to its team in 2011, bringing the company to more than 850 employees worldwide.
“We set the bar high for ourselves with aggressive growth goals over the past few years, and are honored to be recognized as a Deloitte Fast 500 company,” said Chuck Ghoorah, Executive Vice President of Sales and Marketing at Cvent.
“Companies are increasingly turning to web-based software to help employees do their jobs faster, easier and more cost-efficiently, and adoption of Cvent’s solutions has been steadily on the rise. We will continue to invest in product enhancements, our award-winning client service initiatives and our employees to ensure we maintain our tremendous growth trajectory.”
In July, Cvent received a $136 million investment led by New Enterprise Associates and Insight Venture Partners to fuel enhancements to its event management, strategic meetings management and web survey products, and to accelerate the growth of the Cvent Supplier Network, the world’s largest free online marketplace that connects event planners with venues.
“We are pleased to honor Cvent as a 2011 Technology Fast 500 company,” said Mark Jensen, managing partner, technology and venture capital services, Deloitte & Touche LLP. “As one of the fastest growing tech companies in North America, Cvent has demonstrated excellence in technological innovation, entrepreneurship and rapid growth.”
For more information about the Deloitte Technology Fast 500™, please visit http://www.deloitte.com/us/fast500/.
