SAN FRANCISCO--(BUSINESS WIRE)--Vector Capital, a leading private equity firm specializing in transformational investments in established technology businesses, today announced its investment in Patron Technology (“Patron”), a premier event technology platform.
Patron offers a full-suite of event technology solutions for live, virtual, and hybrid events designed to transform the attendee experience. The company empowers event organizers at conventions, sports arenas, music venues, performing arts festivals, and other attractions to tailor their ticketing, mobile, experiential marketing, and cashless products to fit each of their vertical-specific needs. Patron's seasoned management team, led by Chief Executive Officer Marc Jenkins, is remaining with the business.
“We are excited to back Patron 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 periods of significant dislocation and we believe Patron’s best-in-class product suite and proven executive team position it well to transcend this crisis. We are confident that our growth investment will enable Patron to not only outlast this global pandemic but to emerge stronger than ever on the other side of it.”
Mr. Jenkins 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 our 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 COVID-19, Patron’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 became the first of its peers 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 a management team unparalleled in its industry, Patron 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 limitless event technology solution is redefining what it means to be an event creator. With its 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 an organizer needs. 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.
For Vector Capital:
Nathaniel Garnick / Grace Cartwright
Gasthalter & Co.