Johnny Boufarhat founded Hopin in 2019. It is a virtual events platform and video-focused software service. They just closed a $400 million Series C. The new capital values Hopin at $5.65 billion. We invited the founder and CEO to share with us how they did it.
Hopin announced that it has closed a $400 million Series C, co-led by top VC companies Andreessen Horowitz and General Catalyst. According to TechCrunch, Hopin is reaching revenue of $70 million ARR today.
As part of the transaction, Andreessen Horowitz's Sriram Krishnan will join Hopin’s board.
Hopin had grown rapidly, from $20 million ARR in Q4 2020. It had recently bought StreamYard, a company that brought $27 million worth of ARR to the combined entity. Hopin spent $250 million on that deal, a transaction that was announced in January of this year. The company has raised $565 million since February of 2020.
Hopin intends to invest heavily in its product and engineering functions, in order to keep the company’s product spend high as a percentage of revenue.
SG SHow panel: The Innovation Puzzle – How can startups close corporate partnerships
The panel will include speakers from GE healthcare and Wayra:
- Jan Beger, Senior Director Digital Ecosystem at GEHC, and the Lead of the EMEA Edison accelerator
- Patricia Nicola, Head of Venture Development and Partnerships at Wayra
Discussion topics will be around how startups can work with corporates, with a segway into AI and healthcare:
- How can startups get involved with corporates?
- How can Deep Tech help me stay healthier?
- Segway into Healthcare – What technologies are available for me to use?
Join us on 25th March for a fireside chat with Hopin’s founder and CEO, Johnny Boufarhat and a panel with Wayra and GE Healthcare.