A £94 million funding round has valued London-based Hopin at more than $2 billion.
In just eight months, the virtual events platform has scaled from 5,000 registered users and 1,800 organisations to 3.5m users and over 50,000 organisations.
The company has also grown from eight employees to over 200 across 38 countries and expects 150 more hires by the year’s end.
Writing candidly earlier this year after a £32m Series A round, CEO Johnny Boufarhat revealed how a rare and severe reaction to medication made him “allergic to the world” – and led ultimately to Hopin.
The Series B investment was 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.
New clients include The Atlantic, Miro, NATO, The Next Web, TechCrunch, Twitch, UCLA, The University of Notre Dame and the Wildlife Conservation Society, with hundreds of new organisations joining each day.
“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 organisation, with an ambitious innovative roadmap that they have the ability to scale quickly — a sure recipe for success.”
Kris Fredrickson, managing partner at Coatue, added: “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. We’re proud and excited to partner with Johnny and his team.”
Hopin also announced the beta launch of Hopin Explore, which it says powers worldwide search and discovery and enables users to find events of interest across a variety of themes including technology, entertainment, education, business and entrepreneurship, lifestyle and health.
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.
“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, organisations and friends to discover more opportunities to connect,” said Boufarhat.
“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.”