By Alex Lim, Jules Maltz, Karthik Ramakrishnan, and Somesh Dash
In June of this year, IVP led a $40 million Series A for Hopin, the leading virtual events provider. We published our investment thesis at the time and noted that Hopin was growing fast … but we had no idea what would happen next. Soon after we invested, Hopin turned on the afterburners: 3.5 million users have now registered for Hopin events, 50,000 organizations have hosted events, and the Hopin team has grown from 8 at the beginning of the year to 200+ today. Hopin exceeded all of our expectations and is now on an unprecedented late-stage growth trajectory.
Today, we are pleased to announce that IVP has co-led a $125 million Series B for Hopin with participation from existing investors and other leading investment firms. While we are excited by Hopin’s growth, this financing mainly validates their market-leading product, their team’s strength and depth, and their ambitious mission to create Better Connections for a Better Planet. Hopin’s path to becoming a platform communications company is more apparent than ever.
The story has just begun for Hopin. People are participating in virtual events in droves. Event organizers are achieving results previously impossible using a physical venue. And the volume and variety of events are growing exponentially. Thank you to Johnny for putting your trust in IVP and for deciding to deepen the partnership between our organizations. Let’s hop into the future together … no DeLorean required!
Alex Lim, Jules Maltz, Karthik Ramakrishnan, and Somesh Dash are Investors at IVP, a later-stage venture capital firm based in Menlo Park, CA.