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Startup Hopin Seeks Funds at Valuation of More Than $7 Billion

·1-min read

(Bloomberg) -- Hopin Ltd. is seeking fresh funding that values it at more than $7 billion, according to people familiar with the matter.

The London-based online events platform has begun talks with investors about a new round of financing, the people said, asking not to be identified discussing confidential information. Hopin is seeking to raise more than $300 million in the round, one of the people said.

Deliberations are ongoing and no final decisions on the size or timing of any fundraising have been made, according to the people. A representative for Hopin declined to comment.

The talks come just months after Hopin raised $400 million in a series C funding round led by investors including Andreessen Horowitz and General Catalyst that valued it at $5.65 billion. It has grown this year through acquisitions, adding StreamYard, Streamable and Jamm this year to boost its suite of video technology.

The new valuation being sought from the latest fundraising reflects the positive impact of recent acquisitions on Hopin’s group revenue, said one of the people.

Hopin, which launched in 2019, has been among the companies able to take advantage of the global shift to online meetings and conferencing that has taken place during pandemic lockdowns. Its backers also include Accel, LinkedIn Corp., Tiger Global Management, IVP and Coatue Management.

(Updates with possible size of round in second paragraph)

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