Saturday, June 15, 2024

Cvent Acquires Reposite to Expand its Global Vendor and Supplier Sourcing Marketplace

Cvent, an industry-leading meetings, events, and hospitality technology provider, announced that it has acquired Reposite, an AI-powered online vendor and supplier sourcing platform. Reposite streamlines the meetings and event planning process with its curated database of more than 35,000 group-friendly offerings, robust request for proposal (RFP) creation tools, and AI-powered quote matching solutions. Thousands of event professionals and leading third-party planners rely on Reposite for their vendor sourcing needs.

As a long-time leader in hotel and venue sourcing, Cvent – through its acquisition of Reposite – further enhances its vendor and supplier sourcing offerings, enabling event professionals and third-party planners with:

  • Broadened Supplier Discovery and Coordination: More than $16B was sourced through Cvent’s hotel and venue sourcing solutions in 2023. Building on this multi-billion-dollar marketplace, Reposite will extend Cvent’s sourcing offerings with a diverse inventory of vendors across ten unique event-related categories including transportation, restaurants, entertainment, staffing, gifting, and more. In addition, Reposite’s technology will help to grow and expand the Cvent Vendor Marketplace, which offers users a curated network of vendors to support in-person, virtual and hybrid event requirements.
  • AI-Powered Supplier and Vendor Matching: Reposite’s AI Matching technology pairs planner RFPs with the best-fit suppliers based on geography, group size, event dates, target audience, and other user preferences. This innovative matching solution removes the manual effort typically required to source and finetune a curated vendor list.
  • Streamlined End-to-End Group and Event Planning: Reposite is purpose-built to power the entire vendor sourcing process – from searching suppliers and generating RFPs, to quote management, customized proposal creation and payments – all within a centralized, easy-to-use workspace. This platform approach streamlines communication and improves efficiency for both event professionals and vendors, ultimately helping deliver greater ROI.

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“Cvent has been a driving force for the meetings and events industry and a long-time inspiration for our business,” said Alexa Berube, Co-Founder of Reposite. “Since founding Reposite in 2020, our aim has always been to create a platform that fuels supplier discovery and seamlessly connects event and travel professionals to the critical vendors they need to deliver successful events.”

“This announcement marks an exciting new chapter for our Reposite team,” said Heather Stupi, Co-Founder of Reposite. “We’re excited to join an industry leader who shares our passion for connecting the meetings and events ecosystem and powering the human connection through in-person events.”

“Alexa and Heather have built an impressive vendor sourcing solution in a very short amount of time, and we’re excited to bring their talented team and innovative technology to Cvent,” said Cvent CEO & Founder, Reggie Aggarwal. “Reposite is a perfect complement to our own hotel and venue sourcing platform and aligns seamlessly with our vision of creating a global marketplace where the meetings and events ecosystem can come together to deliver exceptional experiences.”

SOURCE: Businesswire

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