November 10, 2021, CHICAGO, IL – Water Tower Research (www.watertowerresearch.com) has published an Initiation of Coverage report on Dragoneer Growth II / Cvent (NASDAQCM: DGNS) as Dragoneer Growth Opportunities Corp. II. is merging with Cvent, a leading meetings, events, and hospitality technology provider. The report centers around Cvent’s suite of solutions that automates and simplifies the event-management process and delivers live engagement to maximize the impact of virtual, in-person, and hybrid events.
“With the COVID-19 pandemic slowing and an events industry that has become increasingly digitized since March 2020, it appears to be an opportunistic time for Cvent to go public. The company’s 92% recurring revenue and 22% core revenue growth from 2017-2019 give it sufficient confidence to call for 23% revenue growth in 2022 and again in 2023,” said John M.A. Roy, Managing Director, Technology at Water Tower Research. “Cvent just announced 3Q results where it beat its guidance and raised its 4Q guidance, and it returned to double-digit revenue growth despite the Delta variant. With the rise of virtual and hybrid events combined with demand for in-person events, the total addressable market (TAM) for event-management technology is estimated to be $29.7 billion, and Cvent estimates it has $2.7 billion of opportunity within its installed base.”
We will be hosting Reggie Aggarwal, CEO and Founder of Cvent on Thursday, November 18, 2021 at 1 pm EST as part of our WTR Fireside Chat Series. Register for the event here.
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