Virtual Events Provider Hopin Closes $40 Million

By Amit Chowdhry ● June 29, 2020
  • Leading virtual events provider Hopin announced it raised $40 million in Series A funding

Leading virtual events provider Hopin announced it raised $40 million in Series A funding led by IVP with participation from Salesforce Ventures and existing investors Accel, Northzone, Seedcamp, and Slack Fund. And since launching in 2019, Hopin has scaled to nearly a million users attending events hosted by over 16,000 organizations, dramatically expanding access while reducing costs for organizers and attendees.

With this round of funding, the company will use the investment to scale its platform to meet soaring demand and make virtual events the default for any organizer or attendee.

Launched in 2019, the company has hosted thousands of virtual events bringing together over 850,000 users including large-scale tech events, major international conferences, and weddings. And with 50,000 customers on its waitlist and more than 1,000 organizations joining each day, the company is currently producing events for major organizations such as the United Nations, The Wall Street Journal, NBC Universal, Adobe, GitLab, Culinary Institute of America, and hundreds more.

In sectors ranging from technology to media to consumer products to governments, organizations around the world are replacing costly in-person gatherings with dynamic virtual events — typically seeing attendance triple as a result. And as businesses are opening new revenue streams by building on top of Hopin, with innovations such as employee training workshops, remote summits and recruiting sessions.

Key Quotes:

“The global vision for Hopin is to be the best online venue for any event. We are building a solution to what has been missing for so long: a platform people can use to build online events that match the dynamism of an interactive, in-person experience. We’ve brought together the technology, the team, the investors and a surging user base of passionate event organizers that together will help Hopin make online events no longer a lesser alternative for the event industry but an indispensable staple.”

– Hopin founder and CEO Johnny Boufarhat

“Hopin has quickly established itself as the clear market leader in virtual events. They’ve created the most engaging events that blend live presentations, interactivity, and truly valuable networking for an unparalleled digital experience. Hopin is scaling faster than any software company we’ve ever seen to meet the current demand and create an enduring model to meet this long-term societal shift. We’re proud to partner with Johnny Boufarhat and the incredible team at Hopin.”

– Jules Maltz, General Partner at IVP

“Hopin has built the leading platform for enterprise events. Hopin’s breakthroughs make online events dynamic and relevant to today’s customer expectations, as they help event organizers provide greater value for sponsors while driving better sales leads. We are delighted to be an early investor and support Hopin’s virtual events strategy and growth.”

– Alex Kayyal, Partner and Head of EMEA and APAC at Salesforce Ventures