London-based virtual events platform, Hopin, has raised $400M (approx €332.37M) in its Series C round of funding co-led by new investors Andreessen Horowitz and General Catalyst. Besides, existing investors also participated in this round including IVP, with participation from returning investors Coatue, DFJ Growth, Northzone, Salesforce Ventures, and Tiger Global.
With this investment, the company is now valued at $5.65B (approx €4.69B).
In addition to the investment, Sriram Krishnan, general partner at Andreessen Horowitz, will join Hopin’s Board of Directors.
The development follows Hopin’s recent $125M (approx €106.1M) funding in its Series B round led by existing investor IVP and new investor Tiger Global. Since then, Hopin has added 30,000 customers including Poshmark, American Express, Hewlett Packard, The Financial Times, and YMCA. And, has raised more than $565M (approx €469.4M).
Founded in 2019 by Johnny Boufarhat, Hopin is a live virtual events platform where attendees can learn, interact, and connect with people from anywhere in the world.
The 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.
Hopin’s platform hosts virtual events such as large-scale tech events, major international conferences, and even weddings. Attendees can network one-on-one, break out into group sessions, watch keynote presentations, send chat messages and polls, and explore interactive expo areas.
Use of the capital
The raised funds will help the company to accelerate its growth, expand its operations, team, and platform to meet the demands of its customers, and support the business.
Johnny Boufarhat, CEO and founder of Hopin, says, “We are creating a portfolio of products to build the future of live video collaboration and remote community. As we’ve seen, the importance of providing unparalleled virtual and hybrid event experiences has never been greater and this latest funding is a reflection of how critical it is as brands look for ways to connect with people and avenues of growth. To enable this, we are investing more in video innovation, the core medium of digital collaboration. We’re incredibly appreciative of the confidence from our investors who share Hopin’s vision for a better-connected world. This is a testament to the dedication of the Hopin team, which works hard to deliver for our customers.”
Hopin has scaled from six to more than 400 employees since the beginning of 2020 and grown from a few hundred event creators to more than 85,000 organisations with millions of attendees showing up each month.
The event company will continue investing in the development of its platform technologies in areas such as video and mobile, which it believes are crucial to defining the future of hybrid events.
New hires to support growth and innovation
Besides the funding, Hopin is also announcing the appointment of three new executives to its leadership team. Anthony Kennada joins the company as chief marketing officer (CMO), Sarah Manning serves as the vice president of people, and Jonathan Killeen has been named the head of remote.
Kennada brings extensive GTM experience building the iconic brands of some of the most notable enterprise software companies in the world. He most recently held the role of Chief Marketing Officer at Front, the leading customer communication company.
Sarah Manning is a proven global HR leader, having worked in large corporations and rapid-growth startups. She has partnered with executive leaders on their global people strategies and has led HR teams distributed across four continents. She joins Hopin after serving in senior HR roles at Zendesk and BT.
As for Jonathan Killeen, he will oversee programs to support Hopin’s fully-remote workforce, developing internal initiatives and systems that focus on building Hopin’s remote work culture and optimising employees’ productivity and workplace engagement. He joins Hopin from Dropbox, where he most recently served as global events program manager & International Workplace Services lead for EMEA & APJ.
Recent growth and developments
The company claims that its technology has been used to power the digital component of hybrid experiences in events across Europe, and as announced last week, will soon power new hybrid meeting solutions across the Marriott portfolio of hotels in the US and Canada.
Recently, Hopin acquired mobile app development company Topi and video streaming company StreamYard, adding StreamYard’s 3.6 million video content creators to its base.
Earlier this year in February, the company had launched a mobile app at the Hopin 2021 Kickoff, which, according to the company, is a global gathering for event professionals to illuminate the future of virtual and hybrid events.
Prior to that in February 2020, the company had raised £5M (approx €6M) in seed investment led by global venture capital firm Accel, with participation from Northzone, Seedcamp, Web Summit’s Amaranthine Fund, and Slack Fund.