Hopin raises a further $450m in investment funding
Event platform Hopin, 5 August, has announced it has raised $450m in Series D funding co-led by new investors Arena Holdings and Altimeter Capital and with participation from new investors Adams Street Partners, Untitled Investments and XN, in addition to existing investors Andreessen Horowitz, DFJ Growth, General Catalyst, GIC, IVP, Northzone, Salesforce Ventures, Slack Fund, Temasek and Tiger Global.
Since February 2020, Hopin, which was only founded in 2019, has raised more than $1bn. This new round values the company at $7.75bn.
The announcement follows Hopin’s acquisitions of Boomset and Attendify in support of its expansion beyond virtual to become an all-in-one event management platform.
Hopin said it would use the new capital to accelerate growth to further scale the platform and invest in the development of its multi-product platform technologies, including building new product suites.
Hopin has scaled from six to more than 800 employees in over 47 countries since the beginning of 2020 and says that 100,000 organisations now host events on the platform.
“Hopin started with the goal of giving people more options for meaningful connection,” said CEO and founder Johnny Boufarhat (pictured). “We continue to uplevel with the priority to become accessible to all, and offer the optimal solution to seamlessly connect people to experiences for live events and beyond. Hopin plans to be wherever important conversations and connections happen. We are grateful for the ongoing support and confidence of our investors to actualise this.”
The acquisition of Boomset earlier this year added onsite capabilities such as kiosk, badges and more to Hopin’s hybrid offerings. Additionally, with the more recent acquisition of Attendify, Hopin has enhanced its event marketing suite to provide elevated, data-driven registration and engagement tools.
Also in 2021, Hopin acquired video hosting provider Streamable and set its sights on collaboration with the acquisition of video technology company jamm. Previously in 2020, Hopin entered the content space with the acquisition of StreamYard, adding 3.6m video content creators to its base.
"The pandemic has forever changed how companies and communities interact and connect with their audiences and each other,” said Brad Gerstner, founder and CEO of Altimeter Capital. “We are thrilled to partner with Johnny Boufarhat and the team on their journey to make the world more connected through Hopin’s platform.”