[Funding alert] Hubilo raises $125M in Series B led by Alkeon Capital
, the virtual events platform headquartered in San Francisco with a base office in Bengaluru, has raised $125 million in a Series B funding round led by Alkeon Capital, with participation from Lightspeed Venture Partners and Balderton Capital.
Hubilo plans to use this latest round of funding to expand its market reach in India and overseas through new business functions, product enhancement, go-to-market teams in the US, the UK, EMEA, and APAC.
Hubilo also plans to set up new sales offices in key regions to expand its operations and reach out to a larger customer base. In addition, it will also increase the overall employees’ count by 150 percent.
The Series B round of funding brings the total capital raised by Hubilo to $153 million to date in the past 18 months.
“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 organisations 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 in 26 days and emerged as one of the architects of large-scale communications with the first version of their event platform.
Abhi Arun, Managing Partner at Alkeon Capital, said, “In Hubilo, we saw a powerful technology capable of connecting the offline and online worlds, a strong CEO, and an amazing market opportunity that gave us the confidence to invest.”
Hubilo has supported 10,000 events with more than two million attendees across more than 100 countries. It has worked with global brands such as Blackboard, Walmart, United Nations, Roche Pharma, Maersk Shipping etc.
The Asia-Pacific region accounts for 25 percent of Hubilo’s business and the company plans to grow further 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.