Acquisition highlights increasing event planner and hotelier demand for intuitive event diagramming technology that facilitates better collaboration and drives group business revenue

Cvent, an industry-leading meetings, events, and hospitality technology provider, today announced that it has acquired Prismm, a leader in spatial event design technology. More than 5,500 event venues, hotels, planners and vendors rely on Prismm to connect and collaborate within virtual environments to create stunning event spaces and experiences. The acquisition of Prismm reinforces Cvent’s commitment to setting the industry standard for immersive 3D event diagramming technology that benefits both event and hospitality professionals.

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“In today’s digital-first landscape, online collaboration is mission critical to get business done, and in an uncertain environment, you need more ways to engage and interact with customers and prospects to ensure you’re on the same page,” said Jim Abramson, Cvent Vice President of Product Management. “Given our expansive global network of more than 145,000 planners and nearly 340,000 hotels and venues across our Cvent ecosystem, we understand what time-strapped event professionals and resource-constrained hoteliers need to deliver bigger and better events. Collaborative, easy-to-use virtual event design technology has become an expectation among many event organizers, and our acquisition of Prismm illustrates that we’re continuing to invest to meet this demand, while helping hotels and venues simplify their event planning processes and maximize group business revenue.”

“Over the last 12 years, we have worked relentlessly to empower our customers to connect, collaborate, and transact across immersive virtual environments, and we’re proud to announce this next chapter as part of Cvent,” said Yaron Lipshitz, CEO of Prismm. “Combining our 3D design capabilities with Cvent's extensive network and industry expertise will empower event professionals and hoteliers to create unforgettable experiences and drive significant business growth.”

Benefits of immersive, interactive event design technology include:

• For Hoteliers and Venue Operators
  • Streamlined Event Creation: Online diagramming tools that are accessible to all key stakeholders reduce planning time and increase event design accuracy.
  • Elevated Sales and Marketing: Dynamic 3D virtual tours allow prospects to explore every aspect of a property and meeting space from anywhere.
  • Improved Customization and Competitive Differentiation: Offering cutting-edge event design technology can set hoteliers apart from their competitors, while personalized virtual “walkthroughs” with branded elements help bring a prospect’s vision to life and leave a lasting impression.
• For Event Professionals
  • Simplified Sourcing: When time and budgets are constrained, online diagramming tools accelerate and optimize the venue sourcing process via virtual site visits and accurate space visualization. This helps planners quickly identify which venues are best suited for their needs based on layout, capacity, and overall fit.
  • Enhanced Planning: Precision floor plans and templates enhance the ability to visualize layouts, seating arrangements, and decor, ensuring precise planning and execution. Planners can easily identify potential issues and adjust before the event, leading to a smoother and more successful experience.
• For Both Hospitality and Event Professionals:
  • Improved Collaboration: Cloud-based diagramming enables real time collaboration with all stakeholders and decision-makers.
  • Seamless Communication: With advanced spatial design tools, planners can share detailed virtual representations of event spaces with clients, vendors, and stakeholders. This fosters better communication and simplifies decision making.

Nfluence Partners acted as the exclusive financial advisor to Prismm on the transaction.

About Cvent

Cvent is a leading meetings, events, and hospitality technology provider with 5,000+ employees and 24,000+ customers worldwide as of December 31, 2024. Founded in 1999, the company delivers a comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create engaging, impactful experiences. Cvent is headquartered in Tysons, Virginia, just outside of Washington D.C., and has additional offices around the world to support its growing global customer base. The comprehensive Cvent event marketing and management platform offers software solutions to event organizers and marketers for online event registration, venue selection, event marketing and management, virtual and onsite solutions, and attendee engagement. Cvent’s suite of products automates and simplifies the event management lifecycle and maximizes the impact of in-person, virtual, and hybrid events. Hotels and venues use Cvent’s supplier and venue solutions to win more group and corporate travel business through Cvent’s sourcing platforms. Cvent solutions optimize the event management value chain and have enabled clients around the world to manage millions of meetings and events. For more information, please visit Cvent.com.

About Prismm

Prismm is a global leader and top provider of spatial design technology with a clientele of over 5,500 organizations. Its innovative platform aims to revolutionize how people connect and collaborate within virtual environments and experiences. By enabling professionals to plan, design, and visualize spaces in harmony with their clients, Prismm is changing the game for venue and planning experts and reshaping how they market and sell to a worldwide audience.

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"In an uncertain environment, engaging with customers and prospects is crucial. Cvent's acquisition of Prismm demonstrates our commitment to providing hotels, venues and planners with collaborative online tools to create exceptional event experiences."