Hubilo secures £92 million in Series B funding
Hubilo, a leading global virtual events platform, announced that in a funding round led by Alkeon Capital and additionally, Lightspeed Venture Partners and Balderton Capital, it has raised £92 million in Series B funding to further the development of the future of events and engagement on Hubilo’s platform.
This brings the company’s total funding to £113 million to date in less than 18 months. The investment, one of the largest in the event technology category, signals the revolution in ways by which people connect, engage, share experiences, and create opportunities at a time when uncertainty about COVID-19 and its variants have resulted in cancelled events and delayed a return to traditional office environments.
The Series B funding will supercharge Hubilo’s continued international growth by allowing the company to develop new business functions, advance innovation of its platform, strengthen its product, engineering, and design teams in India, and go-to-market teams in the US, UK, EMEA, and APAC.
Hubilo also plans to set up new sales offices in key regions to expand its operations and reach a greater volume of customers. In addition, Hubilo will also increase the overall employees’ count by 150% to support its rapid growth plans and to respond to the increased customer demand for virtual and hybrid events.
“The power to engage with massive audiences unlocks the potential for more diverse, geographically dispersed communities to come together for business and consumer events, remote workforces to stay engaged, and organisations to rethink the way they hire and train. The potential ahead of us with this investment is massive,” said Vaibhav Jain, CEO and Founder at Hubilo.
“But what we’ve learned over the last 6 years is that an intuitive platform is just table stakes. Our commitment to event organisers is that we will always provide a dedicated event team to ensure flawless execution of every event. This is why so many event organisers make Hubilo their platform of choice.”
Hubilo was founded in 2015 to build event tech that increased attendee engagement at in-person events and works with some of the globe’s largest brands such as Blackboard, Walmart, United Nations, Roche Pharma, Maersk Shipping, with several others.
“We believe strongly in the global distributed workforce being a megatrend that will impact all of us in the future. It is clear that the way we collaborate and connect will need to be rearchitected in order for any global player to succeed,” said Abhi Arun, Managing Partner at Alkeon Capital.
“In Hubilo, we saw a powerful technology capable of connecting the offline and online worlds, a strong CEO, and an amazing market opportunity that gave us the confidence to invest.”
“Businesses spend over one trillion dollars of direct spending on events. In the last couple of years, 15-20% of the enterprise events budget has permanently moved to digital events. Hubilo is one of the fastest-growing and innovative platforms serving this market. I expect in the next few years that Hubilo will be broadly acknowledged as a market leader in the space.” said Guru Chahal, Partner at Lightspeed Venture Partners.