By Sam Fort and Chris Shanahan, DFJ Growth
DFJ Growth is thrilled to announce our investment in Hopin, the emerging leader in virtual events, as part of its $ 125 million Series B financing. We are excited to partner with Founder and CEO Johnny Boufarhat and the rest of the stellar Hopin team as they build the future of large-scale, live online interactions.
What is Hopin? The Hopin platform enables customers to create live online events that are interactive, personal, and flexible. Whether hosting a live training workshop, bringing a company’s remote team together, or launching a full-scale digital conference, the platform makes it easy to create an engaging event for up to hundreds of thousands of participants. Far more than a webinar product, the Hopin platform mimics the in-person event experience with interactive expo halls, live breakout group roundtables, and one-on-one networking sessions, all with customizable branding, integrated ticketing, and security at its core.
Over the past decade, we’ve seen industry after industry become software-enabled, and we’ve backed new-generation leaders like Tesla in auto, Formlabs in manufacturing, and Coinbase in finance. COVID-19 has accelerated the rate of digital transformation across many sectors, but perhaps none as distinctly as the $1 trillion+ live events market.
As in-person gatherings shut down, businesses large and small have had to find new ways to connect with customers, prospects, and employees in a virtual, yet still intimate, format.
Even before the pandemic, Johnny was working on a platform to enable this transition to virtual events and improve on the often chaotic, exhausting, and impersonal experience of attending large events in-person. Our team also recognized an opportunity in the market, and we set out to find a product and company that could address this acute and growing need. Upon hearing glowing reviews of Hopin from our network, and after experiencing the product ourselves through TechCrunch Disrupt and the Forbes Cloud 100, it became clear that Hopin had a killer product and was rapidly becoming the leader in this growing space.
With Hopin, we’ve seen incredible market pull, immense customer love and engagement, and a profile of hypergrowth that puts the company in a class by itself.
While we expect the pandemic will ease over time, it has become clear that online events are here to stay, and we will continue to transition to a hybrid online/offline future. We are also excited about Hopin’s rich roadmap to push the boundaries of events and transform online interactions for businesses and their customers. Today, Hopin is releasing its beta launch of Hopin Explore, which powers discovery and enables users to find events of interest anywhere in the world across a variety of themes — technology, entertainment, education, business and entrepreneurship, lifestyle and health, and more.
At DFJ Growth, we have a history of backing emerging leaders in social and collaboration products, ranging from consumer-facing successes like Twitter and Patreon to enterprise collaboration products such as Box, Yammer, and Front. We believe Hopin is poised to become a critical platform for both enterprises and consumers to participate in events and interact virtually. We couldn’t be more excited to “hop in” to the journey with Johnny and the exceptional Hopin team!