Salesforce Ventures returned to help the virtual event software provider hike its valuation to $2.15bn in its third round this year.
UK-based virtual event platform developer Hopin secured $125m yesterday in a series B round that includes Salesforce Ventures, the corporate venture capital arm of enterprise software provider Salesforce.
Venture capital firm IVP led the round, which also featured Tiger Global Management, Coatue Management, DFJ Growth, Accel, Northzone and Seedcamp. It valued the company at $2.15bn, founder and CEO Johnny Boufarhat told TechCrunch.
Hopin has created an online platform where users can host interactive virtual events that can be sized as large as a conference or simply big enough to host live training or remote company meetings.
The funding will support an expansion that has involved Hopin’s registered user base growing from 5,000 to 3.5 million this year alongside its customers moving from 1,800 organisations to 50,000 in the same period.
The startup expects to add another 150 team members this year and has launched an event search tool called Hopin Explore in beta. IVP also led its last round, a $40m series A in June this year featuring Slack Fund, a subsidiary of communications platform developer Slack, as well as Accel, Northzone and Seedcamp.
Hopin had previously raised $6.5m from Slack Fund, Accel, Northzone, Seedcamp and Amaranthine Fund, the investment arm of technology event promoter Web Summit, four months earlier.
Johnny Boufarhat said in a company statement: “Hopin has proven its ability to make virtual events a central part of the way we interact with each other, and we have been eager to introduce Hopin Explore as a way for communities, companies, organisations and friends to discover more opportunities to connect.
“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.”
