Vancouver-based events technology company Hubb was acquired by Nebraska-based Intrado, a telecommunications company that has business in everything from 911 technology to digital media to enterprise communications.
Terms of the deal were not disclosed. Intrado is control.ed by the private equity firm Apollo Global Management.
Hubb, founded in 2015, has 74 employees and had 2020 revenue of $10.6 million, according to the Portland Business Journal list of largest private companies in the region. The company makes software for event planners, an industry that founder Allie Magyar knows deeply.
The initial Hubb software was developed for her own use at her event planning company. The software helps organizers of events corral content and information that previously existed in ad hoc solutions like email chains or spreadsheets. It also has machine learning tools to help planners make better decisions around content.
Prior to the Covid-19 pandemic, Hubb’s tool included features for virtual events. Once the pandemic took hold and the event industry was put in upheaval, this feature became key for Hubb and its customers.
Last year, Magyar and the team leaned into the product’s virtual tools and helped customers pivot events online. The move worked and business bounced back, Magyar said last summer.
Hubb will be part of Intrado Digital Media. The executive team and employees are joining Intrado and will continue technology and product development. According to her LinkedIn profile, Magyar's title is now chief product officer at Intrado.
“Adding Hubb to Intrado’s Digital Media business will create an innovative, efficient, next-generation all-in-one event platform,” said Ben Chodor, president of Intrado Digital Media in a written statement. “Clients will have access to and benefit from a comprehensive end-to-end event management platform to create events with unique, curated experiences supporting in-person, hybrid, and virtual attendees. It will also accelerate the development of Intrado’s self-service virtual event offering.”
Hubb has raised $10 million from investors. Backers include Five Elms Capital, Elevate Capital Oregon Venture Fund and Portland Seed Fund.
“Intrado Digital Media shares our vision to develop technology that drives progress and propels the events industry forward,” said Magyar in a written statement. “Intrado’s focus on building the largest global technology platform for events, their unwavering commitment to client service and exceptional culture, combined with Hubb’s drive for innovation and deep commitment to the events industry, will bring incredible value to partners, employees, customers, and the industry as a whole.”
