Hopin Raises $400 Million to Scale Innovation for Hybrid Experiences
Virtual events provider Hopin, announced that it has raised $400M in Series C funding co-led by new investors Andreessen Horowitz and General Catalyst, and existing investor IVP, with participation from returning investors Coatue, DFJ Growth, Northzone, Salesforce Ventures and Tiger Global. The funding follows Hopin’s $125 million Series B funding announced in November 2020. Since […]
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Virtual events provider Hopin, announced that it has raised $400M in Series C funding co-led by new investors Andreessen Horowitz and General Catalyst, and existing investor IVP, with participation from returning investors Coatue, DFJ Growth, Northzone, Salesforce Ventures and Tiger Global.
The funding follows Hopin’s $125 million Series B funding announced in November 2020. Since then, Hopin has added 30,000 customers including Poshmark, American Express, Hewlett Packard, The Financial Times, and YMCA. Since February last year, Hopin has raised more than $565 million.
Johnny Boufarhat, CEO and Founder of Hopin said: “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.”
In addition to the investment, Sriram Krishnan, general partner at Andreessen Horowitz, will join Hopin’s Board of Directors.
“Hopin’s leadership team brings together business, event and software expertise that puts them in a unique position to dramatically transform the way we connect and interact with each other through events,” said Mr. Krishnan. “We believe that Hopin is the leader in this space and couldn’t be more excited to partner with the team on their bold vision.”
Hopin will use this capital to accelerate growth, including scaling its operations, team and platform to meet the demands of its expanding customer base and support its multi-product business. Hopin’s technology is already being 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 United States and Canada.
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 organizations with millions of attendees showing up each month. Hopin will continue investing in the development of its platform technologies in areas such as video and mobile, which are crucial to defining the future of hybrid events and making them a seamless experience.
Hopin recently acquired mobile app development company Topi and video streaming company StreamYard, adding StreamYard’s 3.6 million video content creators to its base.
