Boathouse and Tamarix Provide Capital to Convene for Growth and Expansion
July 12, 2013
Boathouse Capital and Tamarix Capital are pleased to announce a growth capital investment in Sentry Centers Holdings LLC (DBA “Convene” or the “Company”).
Headquartered in New York, NY, Convene (www.convene.com) is a rapidly growing developer and operator of urban day conference centers. In an environment where businesses are constantly looking for ways to reduce fixed costs without sacrificing quality and service, Convene provides an ideal outsourced model for meetings, conferences, board sessions, investor presentations, corporate gatherings and training needs. Its suite of services includes meeting and collaboration space rental along with staffing, audiovisual, catering and conference planning support. Convene operates three conference centers in New York City at present and has immediate plans for multi-city expansion.
Ryan Simonetti, co-founder of Convene, said, “We are excited to get started on the next stage of Convene’s growth. We have built a strong foundation to expand upon and now with the help and support of Boathouse and Tamarix, we have the ability to further penetrate New York City and for the first time ever expand our services to other major metro areas. Having executed proof of concept and firmly established a loyal customer base of global clients, the path ahead could not be clearer.”
“The founders of Convene have done a terrific job identifying a need in the market and providing a high-class solution. Convene has a differentiated value proposition, scalable business model, huge market potential and a driven, creative management team,” said Steve Gord, Partner at Boathouse Capital. “Conferences are a basic business necessity, yet to date, there is no brand or clear leader addressing the needs of this changing market,” said Peter Rothschild, Principal at Tamarix Capital. “The additional capital should enable Convene to fill that seat. The Company’s vision is much larger than New York City and we look forward to entering new markets and seeing Convene become a nationally recognized brand.”