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, 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.
“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.”
“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.”
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“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.”
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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.
