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Cvent Buys Reposite to Boost Event Supplier Sourcing

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Skift Take

Cvent's latest acquisition provides the event tech giant with fresh AI capabilities, a purpose-built centralized vendor sourcing process and a broader offering of vendors across ten categories.

Cvent announced Monday that it acquired Reposite, an AI-powered vendor and supplier-sourcing marketplace. The move marks the third acquisition by the events and hospitality technology company since it went private again under Blackstone’s ownership in March 2023 in a $4.6 billion deal. 

Financial details of the deal were not revealed.

“Reposite is a perfect complement to our hotel and venue sourcing platform,” said Cvent CEO and founder Reggie Aggarwal.

The acquisition will add more than 35,000 transportation, restaurants, entertainment, staffing, gifting, and other offerings, broadening Cvent’s vendor-sourcing database. Last year, about $16 billion worth of meetings and events were sourced through its solutions, the company said. 

Cvent will also use Reposite’s technology to expand its offering of vendors supporting in-person, virtual, and hybrid events through its Cvent Vendor Marketplace.

“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,” said Alexa Berube, co-founder of Reposite.

Cvent stands to benefit from Reposite’s AI-powered quote-matching solution, which matches suppliers based on geography, group size, event dates, target audience, and other user preferences. Cvent promises this will remove the manual effort typically required to source vendors.

Reposite also boasts a purpose-built centralized vendor sourcing process, including searching suppliers and generating RFPs, sharing quotes, creating customized proposals and processing payments.

Taking on private investment has allowed Cvent to make two acquisitions earlier this year, Jifflenow and iCapture, both focusing on the trade show side of the business. Cvent has acquired at least 17 companies since its inception. Companies such as Social Tables, acquired in October 2018, have remained relatively separate, eventually becoming a new product for the company and rebranded as Cvent Event Diagramming. Other companies, such as app developers QuickMobile and DoubleDutch, have since been integrated into Cvent’s offerings or shut down altogether.

Reposite was founded in 2020 by Alexa Berube and Heather Stupi as a platform to help project managers streamline contacts, proposals and payments. In 2022, its marketing focus shifted to ​​”supplier management and discovery” and in 2023 to “group travel and events.” In December 2023, the company started promoting its AI capabilities. The same month, the company announced a partnership with Meeting Professionals International (MPI) to introduce the AI-Enhanced Event Professional certificate program as part of the MPI Academy educational offering. 

Earlier this year, Reposite announced a partnership with site selection specialists ConferenceDirect.

Photo credit: Midjourney / Prompt: woman sitting a laptop surfing the web in a work setting