Investment will support Event’s domestic and international growth
CHICAGO, June 23, 2022 /PRNewswire/ — Evention LLC (“Evention”), a leading software provider for hotels, restaurants and retailers, today announced it has secured an investment from Equality Asset Management (“Equality”) , a Bostongrowth-based private equity firm. Evention will continue to be led by its founders and co-managers, mike baldinger, Erik Nejmanand Brian Roth. Financial terms were not disclosed.
“Evention has been providing financial automation software that improves accuracy, lowers operating costs, and enables compliance for over 15 years,” said mike baldinger, co-founder and managing partner of Event. “We are experiencing rapid growth fueled by new products, market expansion and macroeconomic change to improve and automate financial processes.”
“This partnership allows Evention to continue its mission of empowering our clients through financial and back-office automation,” added Erik Nejman, co-founder and managing partner. “Equality has considerable experience supporting growing software companies like Evention and we are thrilled to welcome them as a partner to our company and our amazing customers around the world.”
“Mike, Erik and I are excited about Evention’s next chapter of growth and continuing to build on our long track record of success,” noted Brian Rothco-founder and managing partner.
Event was founded in 2004 to solve the data and payroll complexities associated with tip and gratuity calculations. The first customers were single-location hotels, but management companies and global hospitality and retail brands followed. Today, the company has thousands of customers across industries who use its cloud-based automation solutions for accounting, payroll, and other financial transactions, reducing administrative time and increasing profitability. Evention’s growing product portfolio, along with its international presence, positions it as a trusted partner to some of the biggest names in hospitality, foodservice and retail.
“Finance and accounting offices are undergoing a modernization that is driving demand for software products that offer a clear return on investment,” said Oscar Loynaz, Director at Equality. “Evention streamlines back-office and middle-office processes while improving transparency and employee engagement. We are thrilled to partner with Mike, Erik, Brian and the team at Evention to support their continued success and accelerate their growth.”
“Evention’s focus on creating high-value automation software that meets the needs of complex operating environments has enabled the company to serve global brands with tremendous customer satisfaction,” said Jeff Del Papa, co-founder and managing director of Equality. “With an expanded product portfolio, deep domain expertise and global footprint, Evention is very well positioned to support customers as they seek the benefits of automation.”
McDonald’s Hopkins acted as legal counsel to Evention. Goodwin Procter LLP acted as legal counsel to Equality.
About Event LLC
Situated at Chicago, IL, Event leverages automation to reinvent legacy accounting processes. Evention’s Software-as-a-Service (SaaS) solutions simplify back-office processes for various verticals – from retail to restaurant, grocery, hospitality, casino and more. By streamlining cash management, credit card reconciliation, tips and gratuities, and group billing processes, Evention’s suite of automated solutions reduces costs and increases efficiency. With robust controls and comprehensive reporting capabilities, Event’s solutions ensure financial transparency and security. Event serves thousands of customers around the world.
About Equality Asset Management
Equality Asset Management is a growth-oriented private equity firm. Equality provides equity capital and strategic and operational support to growing companies in the technology and technology services industries. With decades of investment and operating experience, the company has earned a reputation for value creation, serving as steadfast partners to founders and CEOs. Equality is based in Boston. For more information, visit www.equalityassetmanagement.com.
Brian Gosizk (email@example.com) – 312.953.4600
Equal Asset Management
André Chironna (firstname.lastname@example.org) – 646.818.9047
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