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.”
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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.”
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