Cvent Inc, an online event management software provider backed by Insight Venture Management and New Enterprise Associates, filed with the U.S. Securities and Exchange Commission to raise up to $100 million in an initial public offering of common stock, Reuters reported.
(Reuters) – Cvent Inc, an online event management software provider, filed with the U.S. Securities and Exchange Commission to raise up to $100 million in an initial public offering of common stock.
The company, backed by private equity firm Insight Venture Management LLC and venture capital firm New Enterprise Associates Inc, told the SEC that Morgan Stanley and Goldman Sachs were the lead underwriters for the IPO.
The preliminary prospectus did not reveal how many shares the company planned to sell or their expected price.
McLean, Virginia-based Cvent, which intends to list its common stock on the New York Stock Exchange under the symbol “CVT, provides software that helps customers plan events, find venues, create mobile apps and send surveys.
Net proceeds from the offering would be used for business expansion and working capital, the company said.
Cvent, founded in 1999, reported a profit of $4.3 million on revenue of $83.47 million in 2012. It has about 1,300 employees as of May 31.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.