London online events platform Hopin seeks $7 billion in funding: sources


- Hopin has been seeking fresh funding for more than $7 billion, according to people familiar with the matter.

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

Deliberations are ongoing and no final decisions have been made, according to the people, on the size or timing of any fundraising. A representative of 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 which valued it at $5.65 billion. It has grown this year through acquisitions, adding StreamYard, Streamable and Jamm this year to boost its video infrastructure.

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 pandemic shift to online meetings and conferencing that has taken place during the global lockdowns. Its backers also include Tiger Global Management, Accel, LinkedIn Corp., IVP and Coatue Management.