- Virtual events provider Hopin announced it has raised $125 million in Series B funding led by existing investor IVP
Leading virtual events provider Hopin announced it has raised $125 million in Series B funding led by existing investor IVP and new investor Tiger Global and joined by Coatue and DFJ Growth along with Hopin’s returning investors Accel, Northzone, Salesforce Ventures, and Seedcamp. This round of funding was at a $2.1 billion valuation.
In only eight months, Hopin has experienced impressive growth, scaling from 5,000 registered users, and 1,800 organizations hosting events on the Hopin platform to 3.5 million users and more than 50,000 organizations hosting events. And the company has also grown from 8 employees to over 200 across 38 countries at the same time.
And this new investment validates the company’s progress and will allow Hopin to continue to scale its platform, expand its team, meet soaring demand, continue bringing innovations online, and make the virtual event experience as normal as physical events.
Since February, Hopin has raised over $170 million. And Hopin has added thousands of customers since it announced its $40 million Series A round in June, including Miro, NATO, The Next Web, TechCrunch, The Atlantic, Twitch, UCLA, The University of Notre Dame, and the Wildlife Conservation Society.
With hundreds of new organizations joining the platform every day, Hopin is leading the future of events with a new model for event management and experience marketing.
Hopin also announced the beta launch of Hopin Explore. Hopin Explore powers worldwide search and discovery and enables users to find events of interest across a variety of themes: technology, entertainment, education, business and entrepreneurship, lifestyle and health, etc. And visitors can search directly for the events they want to attend, or browse the events that are most popular, newly added and trending, or happening now. Now there are currently 15,000 monthly events available on Hopin Explore, and growing.
For organizers, Hopin Explore essentially helps attendees connect with people — interacting face-to-face, networking, doing business, or just learning. And organizers who make their events public on Hopin Explore will make it possible for their events to be discovered by not only millions of Hopin users but also the public at large due to Hopin’s built-in search engine ranking. Sponsors are able to utilize the marketplace to easily identify partners that reach their target audiences.
KEY QUOTES:
“Hopin has proven its ability to make virtual events a central part of the way we interact with each other, and we’ve been eager to introduce Hopin Explore as a way for communities, companies, organizations and friends to discover more opportunities to connect. Not only will this new investment allow us to improve the platform and bring new features to our community, but it will help Hopin amplify the diverse range of features and events on the platform and attract even more attendees from around the world.”
— Johnny Boufarhat, founder and CEO of Hopin
“Hopin is the fastest-growing company we have seen at this stage and has meaningfully exceeded its plan since our last investment in June. We have been fortunate to invest in early hypergrowth companies like Slack, Snap, and Twitter. Hopin is one of those rare companies with a similar growth trajectory — they have built an extremely customer-centric organization, with an ambitious innovative roadmap that they have the ability to scale quickly — a sure recipe for success.”
— Jules Maltz, general partner, IVP
“As compared to physical events, virtual events enable businesses to dramatically increase reach, to significantly reduce costs, and to understand their audience in greater depth. Hopin is one of the fastest growing software companies we’ve seen and we believe that Hopin is rapidly becoming the market leader in the space. We’re proud and excited to partner with Johnny and his team.”
— Kris Fredrickson, managing partner at Coatue
