UK-based events unicorn Hopin said Thursday that it had raised another $450m in funding, valuing the company at $7.75bn just months after closing a previous round. The raise cements Hopin’s position as the fastest-growing European tech startup of all time and one of Europe’s largest private companies.
Hopin’s latest raise is being co-led by new investors Arena Holdings and Altimeter Capital.
Hopin first gained the title of the fastest-growing European tech startup of all time in March when it hit a $5bn valuation in just one year and nine months, smashing the previous record of three years and three months. It’s another sign of accelerating fundraising timelines for fast-growing companies in Europe; startups including Cazoo, Gorillas and Hopin have set faster and faster records for reaching unicorn valuations since the beginning of 2020.
Hopin, which provides a virtual events platform, was founded in 2019 and saw rapid growth in 2020 when the Covid-19 pandemic hit and organisations were hungry for ways to host events online. Since the beginning of 2020, it’s grown to more than 800 employees in 47 countries.
The company has also shown interest in offline events too; in 2021 it acquired US company Boomset to support in-person events with offerings like check-in kiosks and name badge printing. Hopin is one of Europe’s most acquisitive private tech companies, having also acquired video hosting provider Streamable, video technology company jamm and events marketing company Attendify in 2021, and livestreaming startup StreamYard in 2020.
Hopin said in a press release that it will use the new funding to “further scale the platform and invest in the development of its multi-product platform technologies, including building new product suites”.
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