A virtual events platform will use a 拢17 million Series A funding round to launch bases in London and across Europe.听
A year ago, Silicon Valley company Hubilo听witnessed its revenue as a successful in-person events company begin to collapse as听COVID-19 took hold.听听
Giving itself just 26 days to build an entirely new platform from the ground up to answer the customer demand driven by the pandemic, it听has emerged as one of the leading platforms for experiential virtual events.听
Hubilo has grown its month-over-month revenue consistently by 50% ever since enrolling its first paid customer in April 2020, achieving 10,000% growth overall.听
The round was听led by Lightspeed Venture Partners and听Balderton听Capital, alongside several industry experts and luminaries, including John Thompson,听chairman of the听board at Microsoft, and Chris Schagen,听former CMO at听Contentful.听听
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This funding comes just months after Hubilo鈥檚 拢3.2m seed round in November 2020.听
The firm听plans to expand听its sales teams across Europe, acquire听office space in London, hire听on-ground teams in the UK and US and invest further in the product and design teams based in India.听
It says it will also roll听out several features that will enable stronger attendee engagement and new monetisation opportunities for organisers.听听
Hubilo听has already hosted more than a million attendees on its platform. It says organisers see increased attendee engagement through built-in networking features including meeting tables, private rooms, meeting schedules and gamification features such as听leaderboards.听听
There is听one-click integration with platforms including HubSpot,听SalesForce听and听Marketo, enabling them to demonstrate ROI through event data integrated with their existing workflows.听听
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鈥淲e鈥檝e experienced remarkable growth over the last few months thanks to our vision of placing experience and intelligence at the forefront of virtual events,鈥� said听founder and CEO听Vaibhav Jain.听听
鈥淥ur strategy, product features and platform intelligence are expanding the possibilities of what is achievable in the events space, and we鈥檙e continually delivering greater value for event organisers, sponsors and other stakeholders.听听
鈥�We鈥檙e excited to welcome our investors onboard as we begin this next phase of global expansion.鈥�听
Suranga听Chandratillake,听general听partner at听Balderton听Capital, added:听鈥淭he financial cost and productivity, as well as the climate hit of traditional, in-person events, can be huge.听听
鈥�Until the COVID-19 lockdowns, however, our collective inertia meant that nothing had changed. The听pandemic has demonstrated that virtual and hybrid events can be as engaging as physical ones and substantially cheaper to run and attend, more profitable for organisers and contributors, and more inclusive for attendees.听听
鈥�Hubilo听is at the heart of this revolution of how people听meet听and ideas get exchanged, and we are excited to be partnering with them for their journey.鈥�听
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