Virtual events platform Hubilo announces £17m Series A investment
Hubilo, the global virtual and hybrid events platform, has announced a £17m Series A investment led by Lightspeed Venture Partners and Balderton Capital, alongside John Thompson, Chairman of the Board at Microsoft, and Chris Schagen, Former CMO at Contentful.
This funding comes just months after Hubilo’s £3.2m seed round in November 2020 and is a testament to the belief in Hubilo’s vision for the sector.
Exactly a year ago, Hubilo witnessed its revenue as a successful in-person events company begin to collapse as the pandemic took hold. In an innovative pivot, Hubilo gave itself just 26 days to build an entirely new platform from the ground up to answer the customer demand driven by the pandemic and emerged as one of the leading platforms for experiential virtual events, growing its month-over-month revenue consistently by 50% ever since enrolling its first paid customer in April 2020.
The Series A funding will also be used will also help accelerate the development of Hubilo’s platform, with an increased focus on enabling businesses to develop authentic connections with their customers to develop stronger long-term relationships. In the next few months, Hubilo plans on rolling out several features that will enable stronger attendee engagement and new monetisation opportunities for organisers.
“We’ve experienced remarkable growth over the last few months thanks to our vision of placing experience and intelligence at the forefront of virtual events,” said Vaibhav Jain, Founder and CEO, Hubilo. “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 organisers, sponsors and other stakeholders. We’re excited to welcome our investors onboard as we begin this next phase of global expansion.”