On August 05, 2021, it was announced that Hopin raises new $450 million round of funding through Series D funding. The process of this virtual events company’s raising equity funding was co-led by Altimeter Capital and Arena Holdings, and joined by a number of new investors. More details about the funding below.
Virtual Events Startup Hopin Raises $450 Million in Series D Funding
The event of Hopin raises new $450 million round of funding was a follow-up of Series A funding that raised the company $40 million in June 2020, Series B funding resulted in $125 million in November 2020, and Series C funding in March 2021 with final outcome of $125 million. In total, it has successfully mustered nearly $1 billion.
The most recent streak of funding was led by Altimeter Capital and Arena Holdings, which scaled Hopin valuation to $7.5 billion. On top of prevailing names of investors such as General Catalyst, Northzone, Slack Fund, Tiger Global, Temasek, IVP, GIC, DFJ Growth, Andreessen Horowitz and Salesforce Ventures, there are several new investors XN, Untitled Investments, and Adams Street Partners.
According to the company’s representation, Series D funding was concentrated on diverse product technologies development and new product series establishment. It also apparently shifted away from ‘online event platform’ self-referral to ‘shared experiences platform’.
Johnny Boufarhat, the CEO and founder of the company stated that they constantly proceed to improve with the primary goals of becoming accessible to everyone and providing maximum connection for people to have a taste of live events and more.
Meanwhile, Brad Gerstner, the CEO and founder of Altimeter Capital specified how the way communities and companies connect and interact with each other and their audience has changed forever due to the pandemic. He also expressed the excitement of partnering with the virtual event app unicorn company to create a more connected world through their online conference platform and beyond.
Notable Recent Acquisitions and Innovations by Hopin
According to Hopin’s official statement, the company has used recent months to expand their interactive and appealing products such as virtual conference and create strings of tactical acquisitions to advance their innovation.
Here is the list of the acquisition deals this company made over several virtual event companies and more:
- Boomset acquisition in June 2021 to expand from online event program to comprehensive on-site and virtual meeting platforms.
- Attendify acquisition in July 2021 to invest in the event marketing area and accelerate main products development including Audience CRM, Campaign Manager, and more.
- StreamYard acquisition in January 2021 to combine StreamYard’s capabilities of intuitive and powerful video production with Hopin virtual platform in order to let event organizers create and record professional live and video contents.
- Free plan launches in July 2021 to provide every user the ability to host immersive events on the platform.
- GoFundMe unique integration to allow even managers to present call-to-action during events.
Since its establishment in 2020, the leading shared experiences platform has leveled up from 6 employees to over 800 staffs across 47 countries. The startup events company also achieved impressive milestones such as having over 100,000 event hosts and millions of monthly attendees.