Meetings technology company Cvent has acquired Seed Labs, an Austin, Texas-based company that specializes in mobile applications for consumer and social events, it announced yesterday. According to Cvent — which provides cloud-based software for event management, site selection and web surveys — the acquisition will "catapult" it into the consumer events space.
"Cvent's recent completion of a $136 million private equity round — one of the largest software funding rounds in recent U.S. history — puts us in a unique position to quickly scale our product offerings and expand into new markets," said Cvent Founder and CEO Reggie Aggarwal. "We selected Seed Labs after reviewing at least 20 solutions and hearing their name continuously come up in conversations with our clients and prospects. No doubt about it, they're the top provider of apps for consumer events like the Kentucky Derby, so we plan to leverage their expertise to make our mark in this space."
Seed Labs — which will remain in its Austin headquarters — builds mobile applications for festivals, concerts and sporting events, and previously has completed apps for many high-profile events, such as ESPN's X Games, the National Cherry Blossom Festival and the Country Music Association's CMA Music Festival. Its apps — which have been downloaded by more than 2 million people — are known for their unique features. For example, its X Games app offers real-time streaming score updates while its Kentucky Derby app showcases background information on each horse and jockey.
"Our new relationship with Cvent combines our skills in mobile apps for consumer events together with the best-known online event management company in the industry," said Seed Labs Co-Founder and CEO Todd Rogers. "Clients will now have a complete spectrum of coordinated services under one roof to increase the appeal, excitement and value of their events."