etouches, a global provider of cloud event management software and sourcing solutions, has announced that it has been acquired by HGGC, a middle market private equity firm.
HGGC’s investment will help etouches “significantly expand its business and further invest in its market-leading cloud platform to win a greater share of the $6 billion Event Management Software (EMS) and venue sourcing market.”
“We are very excited to partner with HGGC as we continue to enhance our offering and capitalize on the large whitespace in the market,” Oni Chukwu, CEO of etouches, said in a written statement. “The HGGC team’s experience in marketing technology gives them a very sophisticated understanding of the opportunity in front of us as enterprises transition from single-point solutions to a suite of solutions that manage the entire event lifecycle.”
Throughout its growth over the past nine years, etouches has maintained the highest level of service and quality, winning multiple industry awards including Superior Customer Service, Best Event Management Technology, Best Event Management Software, and Best Event Management Solutions. etouches was also named Best Place to Work in several industry leading publications while achieving a revenue retention rate over 100%.
“Under Oni’s leadership, etouches has become a premier provider of EMS and venue sourcing solutions, more than doubling revenues since 2014,” said Steve Young, Co-Founder and Managing Director of HGGC. “We’re confident that the additional resources we can bring to bear will accelerate etouches’ already impressive growth and outpace the competition. Because we see etouches as a growth investment just starting to reach its potential, we’ve made this acquisition without leverage and are putting cash on the balance sheet to ensure nothing slows the company’s trajectory.”