If you’re in the event business, you already know Hopin. If you’re not in the event business, you’re about to know Hopin thanks to a $400 million series C funding round.
Co-led by new investors Andreessen Horowitz and General Catalyst and existing investor IVP, the round also saw participation from returning investors Coatue, DFJ Growth, Northzone, Salesforce Ventures and Tiger Global.
In addition to the funding, Sriram Krishnan, general partner at Andreessen Horowitz, will join Hopin’s Board of Directors.
Announced last November, Hopin’s series B round amounted to $125 million, and since this time the virtual event platform has garnered 30,000 additional customers including American Express, Hewlett Packard, Poshmark, and, announced last week, will soon power new hybrid meeting solutions across the Marriott portfolio of hotels in the United States and Canada .
Since February 2020, Hopin has raised over $565 million in funding.
“As we’ve seen, the importance of providing unparalleled virtual and hybrid event experiences has never been greater and this latest funding is a reflection of how critical it is as brands look for ways to connect with people and avenues of growth,” comments Hopin CEO and Founder Johnny Boufarhat. “We are creating a portfolio of products to build the future of live video collaboration and remote community.”
Hopin is expected to use the capital to accelerate growth, scale operations, and strengthen the team and platform to address the demands of its expanding customer base and support its multi-product business.
Since the beginning of 2020, Hopin has scaled from six to over 400 employees, grown from a few hundred event creators to over 85,000 organisations using their service, and have acquired mobile app development company Topu and video streaming company StreamYard, effectively adding 3.6 million video content creators to its roster.
“Johnny and the team have built one of the fastest-growing SaaS companies in history by turning a period of unprecedented disruption into an opportunity to redefine how we gather virtually, in-person, and on the entirely new spectrum of experiences that fall in between,” said Quentin Clark, managing director at General Catalyst.