Pandemic-era unicorn Hopin sells off tech assets to cloud communications giant RingCentral

The pandemic era darling of any and all event organisers, Hopin has signed a definitive agreement with California-based cloud communications platform RingCentral to sell off its flagship Events platform and Session product. The terms of the transaction were not disclosed.

The deal will see RingCentral acquire Hopin’s “technology assets, customer relationships, and engineering, product, and go-to-market talent”, but yet not the entire company that is Hopin.

Spurred on by the sudden shuttering of doors that was the live-at-the-office experiment, Hopin raised approximately $1 billion in funding via the likes of Andreessen Horowitz, General Catalyst, and Tiger Global, and at the time of its $400 million Series C round at a $5.65 billion valuation, became the fastest European company to achieve unicorn status at the time.

Over the course of its run, Hopin acquired six companies, perhaps most notably Streamyard at a purchase price of $250 million.

“We’ve built a world-leading events platform trusted by both internal and customer-facing teams at large enterprises and SMBs around the world,” commented Hopin founder and CEO Johnny Boufarhat. “We are thrilled to see the technology that Hopin has been developing over the years find a new home with RingCentral, a recognized UCaaS and CCaaS leader. We’re excited about RingCentral’s plans to grow and invest in the Events and Session platforms as we continue to pursue our vision of building a Community Suite for creators and influencers.”