New York, NY – February 21, 2018 – Bizly, a leading enterprise solution for meetings management, announced today that Convene, the leading independent operator of full-service meeting, event, and work space solutions, has completed a strategic investment in Bizly to better serve the growing meeting needs of Fortune 500 clients. Terms of the deal are not disclosed.
The process to book smaller meetings for most organizations is often cumbersome and lacks transparency. Bizly and Convene will be partnering to develop innovative technology solutions to meet the large volume of small meeting needs for Fortune 500 companies. Convene will be listing a select number of their spaces for booking on Bizly.
“From the first time I met the team at Convene, it was clear that they were taking a different approach, with a focus on the highest quality, full-service event experiences, but with the simplicity and ease of use that today’s customer requires,” said Ron Shah, CEO of Bizly. “This investment constitutes a vote of confidence in our future together, to continue developing the next-generation meeting and event experience.”
Convene has executed leases of nearly 1M square feet of meeting, event and workspace in New York City, Philadelphia, Boston, Washington D.C., and Los Angeles, with plans to expand globally. Ryan Simonetti, the co-founder and CEO of Convene said, “We have been intrigued by Bizly’s ability to assist leading enterprise companies in managing their small meeting programs by using technology, data, and high-touch service. We look forward to developing innovative solutions together through our new partnership.”
This investment comes on the heel of the recent news about Marriott’s decision to cut commissions to corporate travel department and meeting agencies by 30 percent, driving many corporate customers to consider alternative spaces. Bizly’s enterprise marketplace “levels the playing field,” allowing emerging venue providers to compete directly with deep seated corporate relationships by automating the contracting and procurement process for every event.
Founded in 2015, Bizly is a venture capital-backed enterprise platform focused on the small meetings market – which totals two-thirds of all corporate meeting & event spend. Bizly provides an end-to-end solution for sourcing, contracting, payments, and full-service personal support, replacing the four-to-five disparate systems for large enterprises, and providing a user-friendly platform that every employee can easily use to book their own events.
Convene operates a network of full-service meeting, event, and work spaces that include award-winning cuisine, the latest technology, production support, and simplified pricing. Founded in 2009, Convene has locations in New York City, Boston, Philadelphia, and Washington, D.C., Los Angeles, with plans to expand globally. The company has been named one of America’s 100 Most Promising Companies by Forbes, one of America’s fastest growing companies by Inc. Magazine, and the #11 Best Workplace in New York by Fortune Magazine.