London-based virtual events unicorn, Hopin, has announced the acquisitions of video hosting service Streamable and video technology company Jamm. However, the transaction details were not disclosed.
According to the company, the technology from both companies will be integrated into Hopin’s current product offering and become the basis for the development of future video products and features.
“The technology and resources from Jamm and Streamable will become foundational components to future products and the entire Hopin video experience — from production and video quality to how our customers can collaborate and distribute content,” says Johnny Boufarhat, founder and CEO of Hopin.
Hopin into streaming
Founded by Armen Petrosian in 2014, Streamable is an internet video streaming company With Streamable, users can upload, crop, trim, embed and share videos, without leaving the browser. The video hosting site claims to receive over 75,000 new video uploads per day and has over 5,000 paying customers in more than 100 countries. Petrosian will continue to lead Streamable’s business and help build new products at Hopin.
“The first priority for Streamable will be to invest in our product suite and ultimately integrate the Streamable platform into Hopin’s future suite of products,” says Petrosian, founder and CEO of Streamable.
Video collaboration for remote team
Jamm is a virtual workplace application that enables lightweight voice and video collaboration for remote teams. It was founded in 2019 by Badri Rajasekar, who was formerly the CTO of the real-time communication API platform TokBox. TokBox was acquired by Telefonica in 2012 and subsequently spun out to Vonage in 2018.
Jamm offers collaboration features like screen-sharing, white-boarding, recorded video stories and hosts a number of customers including Swoop, SignEasy, Deepsource, Stackery.
“Since I founded Jamm in 2019, we’ve seen growing interest as more businesses pursue a remote-work strategy. I’ve witnessed firsthand how productive remote teams can become when they have a video solution that’s lightweight and collaborative,” says Jamm founder and CEO Badri Rajasekar.
Hopin’s growth continues
According to the company, Hopin continues to see impressive demand for its products and services. In a little over a year, Hopin has grown to millions of users and more than 90,000 organisers hosting events.
Earlier this month, Hopin 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. Hopin has raised a total of $570M (€480M approx) to-date. This round pushed the company’s valuation to $5.65B (approx €4.69B).
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.