Cvent Resumes Acquisition Spree Buying Spatial Tech Company Prismm

Event tech giant Cvent announced on Thursday the acquisition of Prismm, a 3D spatial design technology company that supports 5,000 customers and 500,000 new events per year. This follows a series of four acquisitions in 2024, which included event marketing platform Splash in September. Cvent’s main foray into room diagramming came in October 2018 when it acquired Social Tables for a reported value of $100 million.

Cvent said the Prismm acquisition will help it provide users with collaborative and accurate venue space visualization, including dynamic 3D virtual tours. The company aims to offer these to aid the venue selection process with customization that includes room layouts, seating arrangements, and decor.

Cvent shared ambitious plans for collaborative room diagramming integrated into the Cvent Supplier Network at its European user conference in November. It is bullish on planners using 3D visualization tools in combination with AI to showcase venues with custom setups during the sourcing process, something that no other platform currently offers.

Prismm launched in 2014 by its current CEO Yaron Lipshitz as Allseated. It is headquartered in Northern California with offices in Israel and Germany, the latter as a result of acquiring easyRAUM in 2021. The focus of the platform has evolved from a 2D floor and event planning into a 3D dynamic layout tool by 2018. During the Covid pandemic the company repurposed its 3D technology to create exVo, an immersive virtual events platform. The company rebranded to Prismm in January of 2024.

Nfluence Partners served as financial advisor to Prismm for the transaction. The parties involved did not disclose financial details regarding the transaction.