HOPIN ANNOUNCES $125 MILLION IN SERIES B FUNDING TO POWER THE SURGING VIRTUAL AND HYBRID EVENT INDUSTRY
Amidst Hypergrowth, Hopin Secures Series B Round Led by IVP and Tiger Global, and Joined by Coatue and DFJ Growth, Along with Hopin’s Previous Investors
Hopin Explore Launches in Beta to Power Discovery
LONDON, November 10, 2020 — Hopin, a leading virtual events provider, announced today that it has raised $125M in Series B funding led by existing investor IVP and new investor Tiger Global and joined by Coatue and DFJ Growth, along with Hopin’s returning investors Accel, Northzone, Salesforce Ventures, and Seedcamp. In just eight months, Hopin has experienced impressive growth, scaling from 5,000 registered users and 1,800 organizations hosting events on the Hopin platform to 3.5 million users and over 50,000 organizations hosting events. The company has also grown from eight employees to over 200 across 38 countries in the same time — and expects 150 more hires by year’s end. This new investment validates the company’s progress and will allow Hopin to continue to scale its platform, expand its team, meet soaring demand, continue bringing innovations online, and ultimately, make the virtual event experience as normal as physical events. Hopin has raised more than $170 million since February.
Hopin has added thousands of customers since it announced its $40 million Series A round in June, including The Atlantic, Miro, NATO, The Next Web, TechCrunch, Twitch, UCLA, The University of Notre Dame, and the Wildlife Conservation Society. With hundreds of new organizations joining each day, Hopin is leading the future of events with a new model for event management and experience marketing.
“Hopin is the fastest-growing company we have seen at this stage and has meaningfully exceeded its plan since our last investment in June,” said Jules Maltz, general partner, IVP. “We have been fortunate to invest in early hypergrowth companies like Slack, Snap, and Twitter. Hopin is one of those rare companies with a similar growth trajectory — they have built an extremely customer-centric organization, with an ambitious innovative roadmap that they have the ability to scale quickly — a sure recipe for success.”
“As compared to physical events, virtual events enable businesses to dramatically increase reach, to significantly reduce costs, and to understand their audience in greater depth. Hopin is one of the fastest growing software companies we’ve seen and we believe that Hopin is rapidly becoming the market leader in the space,” said Kris Fredrickson, managing partner at Coatue. “We’re proud and excited to partner with Johnny and his team.”
Hopin Explore Launches in Beta
Hopin is also announcing the beta launch of Hopin Explore. Hopin Explore powers worldwide search and discovery and enables users to find events of interest across a variety of themes — technology, entertainment, education, business and entrepreneurship, lifestyle and health, and more. Visitors can search directly for the events they want to attend, or browse the events that are most popular, newly added and trending, or happening now. There are currently 15,000 monthly events available on Hopin Explore, and growing.
For organizers, Hopin Explore helps attendees connect with people — interacting face-to-face, networking, doing business, or just learning. Organizers who make their events public on Hopin Explore will make it possible for their events to be discovered by not only millions of Hopin users but also the public at large due to Hopin’s built-in search engine ranking. Sponsors can utilize the marketplace to easily identify partners that reach their target audiences.
“Hopin has proven its ability to make virtual events a central part of the way we interact with each other, and we’ve been eager to introduce Hopin Explore as a way for communities, companies, organizations and friends to discover more opportunities to connect,” said Johnny Boufarhat, founder and CEO of Hopin. “Not only will this new investment allow us to improve the platform and bring new features to our community, but it will help Hopin amplify the diverse range of features and events on the platform and attract even more attendees from around the world.”
Founded in 2019, Hopin is the first all-in-one live virtual events platform where attendees can learn, interact, and connect with people from anywhere in the world. With Hopin, you can create live virtual and hybrid events that are interactive and immersive. Whether you’re hosting a live training workshop, bringing your company’s remote team together, or launching a full-scale annual conference, it’s easy to create an engaging event on Hopin for up to hundreds of thousands of people. 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. Hopin is a remote-first company based in London, with employees in more than 38 countries. Learn more at hopin.com.
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 115 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), Discord, Dropbox (DBX), GitHub (MSFT), Glossier, Grammarly, HashiCorp, Hims & Hers, HomeAway (AWAY), Hopin, Klarna, LegalZoom, Looker (GOOGL), Marketo (MKTO), MasterClass, Mindbody (Vista), MuleSoft (CRM), Netflix (NFLX), Personal Capital (Empower), Podium, Rubrik, Slack (WORK), Snap (SNAP), Supercell (Tencent), 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 Tiger Global Management
Tiger Global Management, LLC is an investment firm that deploys capital globally. The firm’s fundamentally oriented investments focus primarily on the global Internet, software, financial technology, consumer and industrial sectors. The private equity strategy has a ten-year investment horizon and targets growth-oriented private companies. Such investments have included Spotify, Harry’s, Warby Parker, Peloton, JD.com, Facebook, LinkedIn, Yandex, Mail.ru Group, Despegar, Ola and Flipkart. The public equity efforts emphasize deep due diligence on individual companies and long-term secular themes. Tiger Global Management, LLC was founded in 2001 and is based in New York with affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.
Coatue is one of the largest technology investment platforms in the world with over $20 billion in assets under management. Our dedicated team of engineers and data scientists work closely with investment professionals to add value to founders and executive teams in our portfolio. With venture, growth and public funds, we back entrepreneurs from around the globe and at every stage of growth. Some of our private investments have included Airtable, Ant Financial, Anaplan, ByteDance, Chime, Databricks, DoorDash, Instacart, Meituan, Snap, Snowflake and Spotify.