Hopin Raises $40 Million Series A to Scale Virtual Events Platform
More than 16,000 organizations embrace Hopin, including United Nations, Dell and The Wall Street Journal; company growing to serve 50,000-organization waitlist, build for long-term growth
LONDON, June 25, 2020 — Hopin, the leading virtual events provider, raised a $40 million Series A led by IVP, joined by Salesforce Ventures and existing investors Accel, Northzone, Seedcamp and Slack Fund. Since launching in 2019, Hopin has scaled to nearly a million users attending events hosted by over 16,000 organizations, dramatically expanding access while reducing costs for organizers and attendees. The company will use the investment to scale its platform to meet soaring demand and make virtual events the default for any organizer or attendee.
Having only launched in 2019, the company has already hosted thousands of virtual events bringing together more than 850,000 users including large-scale tech events, major international conferences and even weddings. With 50,000 customers on its waitlist and more than 1,000 organizations joining each day, the company is currently producing events for major organizations such as the United Nations, The Wall Street Journal, NBC Universal, Adobe, GitLab, Culinary Institute of America, TNW, and hundreds more.
“Hopin has quickly established itself as the clear market leader in virtual events,” said Jules Maltz, General Partner at IVP. “They’ve created the most engaging events that blend live presentations, interactivity, and truly valuable networking for an unparalleled digital experience. Hopin is scaling faster than any software company we’ve ever seen to meet the current demand and create an enduring model to meet this long-term societal shift. We’re proud to partner with Johnny Boufarhat and the incredible team at Hopin.”
“Hopin has built the leading platform for enterprise events,” said Alex Kayyal, Partner and Head of EMEA and APAC at Salesforce Ventures. “Hopin’s breakthroughs make online events dynamic and relevant to today’s customer expectations, as they help event organizers provide greater value for sponsors while driving better sales leads. We are delighted to be an early investor and support Hopin’s virtual events strategy and growth.”
In sectors from technology to media to consumer products to governments, organizations around the world are replacing costly in-person gatherings with dynamic virtual events, typically seeing attendance triple as a result. Additionally, businesses are opening new revenue streams by building on top of Hopin, with innovations such as employee training workshops, remote summits and recruiting sessions.
“The global vision for Hopin is to be the best online venue for any event,” said Hopin founder and CEO Johnny Boufarhat. “We are building a solution to what has been missing for so long: a platform people can use to build online events that match the dynamism of an interactive, in-person experience. We’ve brought together the technology, the team, the investors and a surging user base of passionate event organizers that together will help Hopin make online events no longer a lesser alternative for the event industry but an indispensable staple.”
Founded in 2019, Hopin is the first all-in-one live online events platform where attendees can learn, interact, and connect with people from anywhere in the world. With Hopin, you can create live online events that are interactive and personal. Whether you’re hosting a live training workshop, bringing your company’s remote team together, or launching a full-scale digital conference, it’s easy to create an engaging Hopin event for up to hundreds of thousands of people. At a Hopin event, your attendees can network one-on-one, break out into group sessions, watch keynote presentations, send chat messages and polls, and explore interactive expo areas. There’s also a virtual backstage for speakers and plenty of sponsorship opportunities. Learn more at hopin.to.
With $7 billion of committed capital, IVP is one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 400 companies with 114 IPOs. IVP is one of the top-performing firms in the industry and has a 39-year IRR of 43.1%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. IVP investments include such notable companies as AppDynamics (CSCO), Coinbase, Compass, CrowdStrike (CRWD), Datadog (DDOG), Datalogix (ORCL), Dropbox (DBX), GitHub (MSFT), Glossier, Grammarly, HashiCorp, Hims & Hers, HomeAway (AWAY), The Honest Company, Kayak (BKNG), Klarna, LegalZoom, Looker (GOOGL), Lulus, Marketo (MKTO), Mindbody (Vista), MuleSoft (CRM), Netflix (NFLX), Personal Capital, Rubrik, Slack (WORK), Snap (SNAP), Supercell (Softbank), Tanium, TransferWise, Twitter (TWTR), UiPath, Yext (YEXT), ZenDesk (ZEN), ZipRecruiter, and Zynga (ZNGA). For more information, visit www.ivp.com or follow IVP on Twitter: @ivp.
About Salesforce Ventures
Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Salesforce Ventures, the global investment arm of Salesforce, invests in the next generation of enterprise technology that extends the power of the Salesforce Platform. Salesforce Ventures is building the world’s largest ecosystem of enterprise cloud companies and extending that technology to customers. Portfolio companies receive funding, strategic advisory and operating support, and can easily join Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 375 companies, including DocuSign, GoCardless, Guild Education, nCino, Twilio, Zoom and others across 22 countries since 2009. For more information, please visit www.salesforce.com/ventures.
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