Investment firm Vista Equity Partners has acquired Tripleseat. Through the acquisition, Gather, which already is owned by Vista, will be merged with Tripleseat. The merger will bring together the sales and event-management platforms of Tripleseat and Gather with software solutions that streamline and simplify event booking and management. Terms were not disclosed.
The combined company will operate under the Tripleseat brand. Jonathan Morse, Tripleseat’s co-founder and CEO, has been named CEO of the combined business. Nicholas Miller, co-founder and CEO of Gather, will assume the role of board advisor and work with the management team through the transition to a single company. The headquarters for the combined company will be in Concord, Mass., with a significant office presence in Gather's former headquarters in Atlanta.
“By merging the two companies, we will now have the opportunity to create even greater value for the thousands of event and sales operators that use Tripleseat and Gather applications every day,” Morse said in a statement. “We are excited to join forces with the Gather team, who share our belief in the immense opportunity to utilize technology solutions to transform the way events are booked and managed.”
The merger is supported by an investment from Vista’s Endeavor Fund, which focuses on accelerating the success of high-growth enterprise software, data and technology-enabled businesses, and Enlightened Hospitality Investments, the growth equity fund affiliated with Union Square Hospitality Group.
Level Equity, an investor in Tripleseat since 2017, will continue as a significant shareholder in the combined business. “In Tripleseat, we saw an opportunity to back a founding team with deep domain expertise in hospitality software and an exceptional rate of capital efficient growth,” said Ben Levin, co-founder of Level Equity. “It has been exciting to watch Jonathan and his team triple revenues over the last two years and we are thrilled to continue on as a large shareholder in the combined business.”