Hubilo, the global virtual and hybrid events platform, has announced a $23.5 Mn Series A investment led by Lightspeed Venture Partners and Balderton Capital, alongside several angel investors and industry experts including John Thompson, Chairman of the Board at Microsoft, and Chris Schagen, Former CMO at Contentful.
As COVID-19 has seemingly disrupted the landscape of events, Hubilo has emerged as the one of the leading platforms in serving the high end of the corporate virtual events and trade show market, growing its revenue by 50% month-over-month since enrolling the first customer for its virtual events platform in April 2020.
Vaibhav Jain, Founder and CEO at Hubilo, said. “Our strategy, product features and platform intelligence are expanding the possibilities of what is achievable in the events space and we’re continually delivering greater value for event organizers, sponsors and other stakeholders. We’re excited to welcome our investors onboard as we begin this next phase of global expansion.”
With the expansion in mind, Hubilo is planning to hire 150 more people, taking the tally to 300 by June 2021. The funding will also be used for tech innovation as the platform rolls out several features to enable stronger attendee engagement and new monetisation opportunities for organisers.
“The plan is to hire in India and build on-ground teams in the US and the UK across sales, marketing, product, design and finance divisions ,“ Jain said.
The San Francisco-headquartered company, which also has offices in Ahmedabad and Bengaluru, had raised $4.5 Mn in October last year in funding led by Lightspeed Venture Partners and a bevy of angel investors.
Hubilo’s platform provides a welcoming option in virtual events without the ‘zoom fatigue’ and their funding validates that the virtual events will be here to stay, redefining the future of events.