Hopin raises $450 million in a Series D transforming the virtual interaction between people
Live virtual events platform Hopin, connecting attendees with people from all around the world, has closed a $450 million Series D funding round. The round was co-led by Arena Holdings and Altimeter Capital. New investors Adam Street Partners, Untitled Investments and XN also joined the round with existing investors Andreessen Horowitz, DFJ Growth, General Catalyst, GIC, IVP, Northzone, Salesforce Ventures, Slack Fund, Temasek, and Tiger Global seeing participation as well. Since February 2020, the company has raised over $1 billion and is now valued at $7.75 billion.
Founded in London in 2019 by Johnny Boufarhat, Hopin and its virtual platform allows users to create live online events that are interactive and personal whether they are hosting a live training workshop, bringing a company’s remote team together, or launching a full-scale digital conference. It hosts virtual events such as large-scale tech events, major international conferences, and even weddings that bring users together. Attendees can network one-on-one, break out into group sessions, watch keynote presentations, send chat messages and polls, and explore interactive expo areas.
Since the beginning of 2020, the platform has grown from six to over 800 employees in 47 countries. From humble beginnings of a few hundred event organizers using the platform, Hopin now counts well over 100,000 organizations and millions of attendees on a monthly basis. The company says it now has annual recurring revenue of about $100 million
“As we mature as a company, I think we’re going to go through a time of, not slow growth but not hyper-speed growth, and then it will come back up as we start to release new products,” Boufarhat said.
Altimeter Capital’s Brad Gerstner commented, “The pandemic has forever changed how companies and communities interact and connect with their audiences and each other. We are thrilled to partner with Johnny Boufarhat and the team on their journey to make the world more connected through Hopin’s platform.”
Source: Hopin “From Events to Experiences: Announcing Hopin’s Series D”