Industry Analyst & Strategist

Hopin Raises $400 Million Series C

The March 2021 equity bonanza continues with Hopin and its Series C. Fresh off IPO announcements by DigitalOcean and SEMrush, we see a huge influx of cash and multibillion dollar valuation of Hopin, the virtual event company which just acquired StreamYard.

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From the Hopin blog, Announcing Our Series C: What’s Next for Hopin:

Now, more than 80,000 organizations use Hopin and 3.6 million video content creators use StreamYard, with millions more attending and viewing every month. From almost nothing in March 2020, our business has grown to north of $70M in ARR.

Which brings us to today. I’m proud to announce that Hopin has closed our Series C of $400M, co-led by Andreessen Horowitz and General Catalyst, with IVP.

This round values Hopin at $5.65B—a figure that brings with it high expectations, but also serves as a testament to the real results our incredible, fast-growing team has delivered for our customers over the last 12 months.

If $70 million ARR is generating valuations in the $5.6+ billion range, then DigitalOcean and SEMrush are going to be much much bigger IPOs than I imagine.

Here’s a hint at what to look for when sleuthing acquisitions, IPOs, and mergers:

Today, I am also thrilled to share that we are adding key members of our leadership team.

The Hopin team has grown unbelievably fast—and we’re not slowing down. That’s why I’m excited Sarah Manning, VP of People; and Jonathan Killeen, Head of Remote, are joining us, so we can continue to hire the best talent in the world and support them with a vibrant, innovative organizational culture.

Also joining Hopin is Anthony Kennada, our new Chief Marketing Officer. Anthony is an event professional at heart, who has scaled brands and marketing organizations that have achieved historic results. He will be a key ingredient of our continued growth.

Who else just recently changed up and added to their management team? The following names, if not familiar to you yet, should be on your radar: Jason Teichman, Tarsha McCormick, Lisa Box, Seth Halpern, Fabio Torlini, Rob Charlebois, and Heather Buckingham. They are all recent hires or shifts into greater accountability. This is the kind of stuff that screams WP Engine IPO.

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