Virtual events platform Hopin has announced another $400 million in funding. This takes its funding to $565 million to date with this round valuing Hopin at a staggering $5.65 billion.
The London-based company has been among the most closely watched in the events industry in the past year, from its prolific funding raises and its acquisitions of companies like Streamyard and mobile app Topi.
The latest Series C round of funding comes after raising $40 million in Series A funding in June 2020 and closing Series B with $125 million in November 2020.
This round of funding has been co-led by new investors Andreessen Horowitz and General Catalyst, along with returning investors IVP, Coatue, Northzone, Tiger Global, DFJ Growth, and Salesforce Ventures. In addition to the investment, Sriram Krishnan, general partner at Andreessen Horowitz, will join Hopin’s board of directors.
In the latest company blog post, founder and CEO Johnny Boufarhat described the $5.65 billion as “…a figure that brings with it high expectations, but also serves as a testament to the real results our incredible, fast-growing team has delivered for our customers over the last 12 months.”
The company now boasts 82,000+ organizations hosting events on the platform, 30,000 more than in November 2020. As a result, Hopin reports a very impressive $70M in annual recurring revenue (ARR). With the recent strategic acquisitions of mobile app Topi and streaming platform StreamYard, there seems to be no stopping Hopin.
To ensure adequate management of this rapid growth and build an exciting company culture with …read more