Global Tech Industry Success Story
Global Event Tech Firm Registers Success in Fairfax County
From a business plan on a bar napkin to a $1.65 billion sale in 2016, Fairfax County’s Cvent has been a leader in the meetings, events and hospitality technology space for more than 20 years.
CEO and founder Reggie Aggarwal started Cvent in 1999 with six employees. Today, Cvent employs nearly 4,000 “Cventers” around the world, and more than 50 percent of the Fortune 500 uses their technology to market and manage their virtual, in-person or hybrid events. With a diverse global user base of marketers, event planners and hoteliers, Cvent employs top talent across sales, marketing, client success, software engineering, product design, user research and other technology and service areas.
After successfully navigating the ups and downs of a startup, Cvent closed its 2013 IPO at $135 million. In 2016, the Tysons-based company sold to Vista Equity Partners for $1.65 billion. That same year, its global workforce increased by 35 percent, adding 500 jobs in Northern Virginia.
The company is consistently recognized as a Top Workplace by both the Washington Post and Washington Business Journal, and Cventers around the world are encouraged to think and act like individual entrepreneurs, or intrapreneurs, helping to foster a culture of creative thinking and innovation.
In Fairfax County, Cvent gains the advantage of a diverse, highly educated talent pool. More than 60 percent of the region’s population holds a bachelor’s degree or higher. One in four jobs are in technology fields, with many positions filled by graduates from a well-known set of colleges and universities.
A move to a new headquarters in Tysons in 2013 meant more space in a building rejuvenated with $7 million in improvements from real estate developer Meridian Group. Cvent further expanded its presence there in 2019, when Aggarwal said, “As a Virginia native, this is where Cvent began, and we are proud to grow our footprint here in the Tysons area…. and we look forward to supporting the vibrant Tysons tech scene for years to come.”
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