The coronavirus has wreaked havoc on millions around the globe. Over 2.5 million people have lost their lives and thousands of businesses have to shut down their operations. However, in the midst of all these, there is a pandemic “digital silver lining.” Companies had no option but to move their operations online. According to a report from McKinsey, businesses digitize many of their activities 20 to 25 times faster during COVID-19. Some of the beneficiaries of the digitization efforts are not just the big tech companies but also small and new technology startups.
An example of one of the startups riding the pandemic-driven boom is Hopin, a London, England-based tech startup and a provider of an online events platform where you can create engaging virtual events that connect people around the globe.
Founded at the right time to meet crucial needs
It’s all about perfect timing and meeting customers’ needs. Hopin was founded less than two years ago at a time when bu has seen a surge in demand for its software accelerate due to the coronavirus pandemic. More than 80,000 organizations are already using Hopin and 3.6 million video content creators use StreamYard, with millions more attending and viewing every month. From almost nothing in March 2020, our business has grown to north of $70M in ARR.
Hopin’s success hasn’t gone unnoticed by investors and backers are pouring millions of dollars into the company. Hopin recently announced it has received $400 million in Series C funding co-led by Andreessen Horowitz and General Catalyst, with IVP. The new funding now values Hopin at a massive $5.65 billion—a figure that brings with it high expectations.
In June 2020, Hopin raised a $40M Series A to accelerate product development and provide stability at scale. Then, in November 2020, Hopin closed another $125 million Series B round which allowed the company to dramatically scale its team of 411 employees and also make strategic acquisitions like those of StreamYard and Topi.
Hopin was founded in 2019 by Johnny Boufarhat. Hopin is a live virtual events platform that enables attendees to connect, learn, and interact with people anywhere. Its platform allows users to create live online events that are interactive and personal whether they are hosting a live training workshop, bringing a company’s remote team together, or launching a full-scale digital conference.
Hopin hosts virtual events such as large-scale tech events, major international conferences, and even weddings that bring users together. Attendees can network one-on-one, break out into group sessions, watch keynote presentations, send chat messages and polls, and explore interactive expo areas.