Companies

Virtual events platform Hubilo raises $125 million funding

Our Bureau· Bangalore | Updated on October 12, 2021

The company will deploy the funding on new business functions, product, engineering and design teams in India

Global virtual events platformHubilo has raised $125 million in Series B funding from Alkeon Capital along with the participation of Lightspeed Venture Partners and Balderton Capital.

This brings the company’s total funding to $153 million across multiple funding rounds. The Series B funding will be used by 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.

Fund deployment

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 per cent 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 organizations 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.

Hubilo was founded in 2015 to build event tech that increased attendee engagement at in-person events. When the pandemic hit in 2020, Hubilo saw revenues dwindling to zero, but rather than declare bankruptcy, they reworked their technology and emerged as one of the architects of large-scale communications with the first version of their event platform. Hubilo works with brands such as Blackboard, Walmart, United Nations, Roche Pharma and Maersk Shipping.

Although the Asia Pacific region accounts for 25 per cent of Hubilo’s business, the company still plans to further grow in the APAC region, especially in India. The recent additions to Hubilo’s India clientele are Publicis Sapient (TLG India Pvt Ltd), Nivea, Reliance Jio, Schneider Electric, and George P Johnson.

“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.

 

 

Published on October 12, 2021

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