SAN FRANCISCO
September 24, 2020
Vector Capital, a leading private equity firm specializing in transformational investments in established technology businesses, today announced its investment in Patron Technology, a premier event technology platform.
Patron Technology offers a suite of virtually limitless event technology solutions across a range of live, virtual, and hybrid events for clients that include conventions, sports properties, music, festivals, performing arts, attractions, and many others. The company empowers event organizers to transform attendee experiences by tailoring their ticketing, mobile, experiential marketing, and cashless products to fit each of their vertical-specific needs.
“With Patron Technology, we saw an opportunity to back the leading platform and a seasoned management team as they successfully navigate unprecedented, COVID-induced, market disruption in the live events industry,” said Rob Amen, Managing Director at Vector Capital. “Vector excels at investing during volatile times, and our thesis is that only the best products and most talented executives will survive this dislocation and emerge as market leaders. We are confident that our growth investment will enable Patron Technology to not only outlast this global pandemic but become stronger on the other side of it.”
All of Patron Technology’s entire management team and staff remain in place to continue to operate the company on a day-to-day basis.
Marc Jenkins, Chief Executive Officer of Patron Technology, stated: “This is an exciting and important day in our company's history. It kicks off a fresh, new partnership alongside the thoughtful investment team at Vector. We are eager to work with them to propel the business through the age of social distancing and beyond. I’m extremely proud to be part of such an amazing team, past and present, that works tirelessly to serve our world-class clients.”
In response to the COVID-19 threat, Patron Technology’s expert team was able to pivot and develop a fully-integrated virtual events solution, complete with a suite of ticketing and experiential tools. With these features, in addition to the company’s already extensive technology toolkit, Patron Technology became the first to offer a complete solution for any combination of online and in-person events.
“With a great set of products, a strong balance sheet, and an unparalleled management team, Patron Technology is well positioned to grow over the coming years,” added Tom Smith, Vice President at Vector Capital. “We look forward to partnering with Marc and his team as they continue to grow from this new position of strength and renewed investment.
About Patron Technology
Patron Technology’s virtually limitless event technology solution is redefining what it means to be an event creator. With their ever-evolving suite of tools, organizers can take control of their entire event, transform the attendee experience, and be a leader in their industry. Whether an organizer wants to create an in-person event, a fully virtual experience, or anything in between, Patron Technology’s team and technology are fully equipped with everything they need. For more information visit patrontechnology.com.
About Vector Capital
Vector Capital is a leading global private equity firm specializing in transformational investments in established technology businesses. With approximately $4 billion of capital under management, Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of businesses and enhance value for employees, customers, and all stakeholders. For more information, visit vectorcapital.com.
Contacts:
For Vector Capital:
Nathaniel Garnick /Grace Cartwright
Gasthalter & Co.
(212) 257-4170