Premier Event Management Platform Tripleseat Announces Strategic Investment from General Atlantic
April 27, 2023
Concord, MA and New York, NY – April 27, 2023 – Tripleseat, a leading event management software and integrated payments solution for the hospitality industry, announced today a strategic growth investment from General Atlantic, a leading global growth equity firm. Existing shareholders Vista Equity Partners (“Vista”), Level Equity, and Enlightened Hospitality Investments (“EHI”) will remain as minority investors in the business.
Tripleseat’s platform provides end-to-end functionality for event management, spanning lead generation, booking, planning, event execution workflows, reporting, and analytics. With embedded payment processing capabilities, Tripleseat enables operators across restaurants, hotels, and other unique venues to book, manage, and collect payments for events in a single integrated offering. By simplifying the event management process, Tripleseat seeks to improve the customer experience and support clients’ ability to grow their events businesses.
“We are thrilled to welcome General Atlantic as our partner and look forward to drawing upon their expertise as we work towards thoughtfully scaling our business, which sits at the intersection of software and payments,” said Jonathan Morse, CEO of Tripleseat. “We are also grateful for Vista, Level, and EHI’s continued support. Over the past several years, we have remained intently focused on building Tripleseat to cater to the unique needs of our customers and deliver long-term value. Looking ahead to our next phase of growth, we are energized to continue innovating and transforming the way the hospitality industry approaches event management.”
In partnership with General Atlantic, Tripleseat plans to focus on key growth areas including expanding market reach, further investing in its product and technology, pursuing strategic M&A, and scaling into additional markets. General Atlantic brings significant experience in integrated software and payments and plans to work with Tripleseat to further enhance this product offering to customers.
“Events are an important and growing business for restaurants, hotels, and other venues. Jono and the Tripleseat team have helped to modernize the events management business, allowing clients to replace cumbersome manual processes with a comprehensive yet easy-to-use system to manage and grow their event operations,” said Paul Stamas, Managing Director and Global Head of Financial Services at General Atlantic. “We look forward to partnering with the Tripleseat team and leveraging our decades of experience in software and payments to support the company’s path toward continued expansion,” added Raph Osnoss, Managing Director at General Atlantic.
“The past few years have been unprecedented in the restaurant and hospitality industries. Tripleseat’s competitive positioning, accelerated by the 2020 merger with Gather Technologies, has been strengthened by the management team’s passion for customer satisfaction and retention, as well as deep market expertise,” said Rachel Arnold, Co-Head of Vista’s Endeavor Fund and Senior Managing Director. “We’re proud of what has been accomplished in this past chapter by the management team; we believe they have driven transformational and lasting change in the market, and we are proud to continue to support the company’s long-term growth and success alongside General Atlantic.”
Tripleseat is a catering and event management platform used by more than 15,000 venues each day, enabling them to streamline the planning process and increase sales. To date, the Tripleseat platform has helped venues book over 10 million events and capture $15 billion in event leads. To learn more about Tripleseat or to schedule a demo, please visit www.tripleseat.com.
About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 495 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has more than $72 billion in assets under management inclusive of all products as of December 31, 2022, and more than 220 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.
About Vista Equity Partners
Vista is a leading global investment firm with more than $96 billion in assets under management as of December 31, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.
Tripleseat Media Contact
General Atlantic Media Contacts
Emily Japlon & Gurion Kastenberg
Vista Equity Partners Media Contact
Brian W. Steel