Cvent acquires California tech company Prismm

Tysons-based global event marketing and management company Cvent announced Thursday it has acquired Mill Valley, California-based spatial event design technology provider Prismm.

The cost of the acquisition was not disclosed, and a Cvent spokesperson declined to comment on the terms of the deal.

Cvent says that Prismm has a clientele of more than 5,500 organizations that rely on the company’s services to connect and collaborate within virtual environments and create event spaces and experiences. According to the spokesperson, Prismm has around 80 employees worldwide.

Prismm specializes in interactive event-design technology, meant to streamline the planning process and ensure more precision. Prismm’s services also can assist with sales in marketing, providing 3D virtual tours that allow prospects to explore every aspect of a property and meeting space from anywhere.

“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, in a statement.

Abramson says the company understands “what time-strapped event professionals and resource-constrained hoteliers need to deliver bigger and better events” and that collaborative and easy-to-use virtual event design technology has become an expectation among many event organizers. He said the acquisition of Prismm shows the company is investing to meet this demand and helping hotels and venues simplify their event planning processes.

Prismm CEO Yaron Lipshitz said in a statement that combining the company’s 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.”

Headquartered in Tysons and founded in 1999, Cvent has more than 5,000 employees and 24,000 customers worldwide.