San Francisco-based virtual events platform Hubilo has announced securing $4.5 million in a seed funding round led by Lightspeed Venture Partners with participation from angel investors Freshworks CEO Girish Mathrubootham; former LinkedIn India CEO Nishant Rao; Slideshare co-founder Jonathan Boutelle; and Helpshift CEO Abinash Tripathy.
Notably, the firm was launched amid the COVID-19 crisis in April by Mayank Agarwal, and Vaibhav Jain. The firm claims to have grown 40X since its inception in April earlier in the year. It is projected to take over $10 million in booking run rate and host more than a million attendees in the next few months.
It counts names like United Nations, Roche, Informa Markets, Tech In Asia, Fortune, and GITEX among its customers. Through the platform, the firm makes the event experience into a gaming one that keeps the attendees glued to the event. It also has a Leaderboard feature where the organizers will give points to the attendees during the event for their participation and offer prizes as well.
Vaibhav Jain, the CEO of the firm talking about the company said, “Our vision is to build the world’s smartest platform for virtual events that bring Experience + Intelligence together. While the revenue growth has been phenomenal, what excites us most is re-imagining and leading the marketing stack that will emerge around virtual events and unlocking.”
Lightspeed partner Hemant Mohapatra commenting on the funding added that "Hubilo is, hands down, one of the fastest-growing SaaS companies we’ve ever seen. We had been looking for a founder to back in this market for a long time and Vaibhav is a true Lightspeed founder: a strategic builder who has plans to change the sector, lead it globally, and an intense passion for and deep insights on this market from having previously run a hybrid events company."
With offices opting to continue working from home, platforms like Hubilo thrive and that’s exactly what the firm has managed to do and the current financing is a testament to their success.
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