Hubilo, the global virtual and hybrid events platform has announced a $23.5 million Series A investment led by Lightspeed Venture Partners and Balderton Capital, alongside several industry experts and luminaries, including John Thompson, Chairman of the Board at Microsoft, and Chris Schagen, Former CMO at Contentful. This funding comes just months after Hubilo’s $4.5 million seed round in November 2020. It is a reflection of the exponential growth in Hubilo’s business and investor belief in Hubilo’s vision for a category that represents the largest fraction of marketing budgets globally.
Exactly a year ago, Hubilo witnessed its revenue as a successful in-person events company begin to collapse as the pandemic took hold. Hubilo rose to the challenge by doubling down on its virtual events platform, adding hundreds of features in less than a month to support the needs of the largest and most demanding conferences in the world. As a result, Hubilo has emerged as one of the leading platforms serving the high end of the corporate virtual events and trade show market, growing its revenue by 50% month-over-month since enrolling the first customer for its virtual events platform in April 2020.
CMOs widely acknowledge that Covid-19 has permanently disrupted the event landscape. Virtual events are now a key part of how businesses connect with their customers, attracting a far broader set of attendees and speakers than physical events. There’s also an increased sense of urgency around ensuring that physical events become hybrid with a digital overlay that brings the benefits of virtual events to the physical world. Hubilo is at the forefront of this transition and plans to build on its momentum by expanding its leadership teams globally, with new offices in San Francisco and London and a rapid build-out of its sales, marketing and customer success teams out of those offices. The Series A funding will also help accelerate the development of Hubilo’s platform. In the next few months, Hubilo plans on rolling out several features that will enable stronger attendee engagement and new monetization opportunities for organizers.