Hubilo Raises $125 Million In Series B Round Led by Alkeon Capital
Hubilo, a virtual and hybrid events platform, has raised $125 million (about Rs 943 crore) in a Series B funding round led by Alkeon Capital.
The funding round also saw participation from Lightspeed Venture Partners and Balderton Capital.
As per the startup, the raised funds will be used to enhance its growth by developing new business functions and advance innovation of its platform.
The startup will also use the raised capital for strengthening its product, engineering, and design teams in India, and go-to-market teams in the US, the UK, Europe, Middle East and Africa (EMEA) and the Asia Pacific.
Hubilo | Hybrid Event Platform Built For Engagement And Event Excellence
Started by Mayank Agarwal and Vaibhav Jain as a cloud-based offline event management platform, Hubilo pivoted to a virtual event platform in February last year, after the offline event industry came to a grinding halt due to the COVID-19 pandemic. With this funding round, Hubilo has raised $153 million so far.
Hubilo Co-founder and CEO Vaibhav Jain said that the funding round, which is 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 these uncertain times.
Speaking on the development, Vaibhav Jain added,
“We will be expanding our sales, partnerships, and business development divisions and setting up a complete Research and Development division that will conduct a series of experiments to ensure that Hubilo is building a completely future-proofed platform.”
The virtual and hybrid events platform also plans to set up new sales offices in key regions to expand its operations and reach a greater volume of customers. Furthermore, the startup will increase the overall employee count by 150% to support its rapid growth plans.
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