Category: hopin

Seedcamp 2021 Year in Review


This post is by Kate McGinn from Seedcamp


50 new companies, £4Bn+ in follow-on funding, and two Seedcamp companies list publicly 

It feels like a daunting task to reflect back on what has arguably been the busiest in our 14-year history at Seedcamp. 2021 has been a year of incredible highs, with some amazing successes and reasons to celebrate across our core team and portfolio companies. We’d be remiss to overlook that — with all the highs — it’s also been a challenging year; both globally and for many of us personally. So, we start this year’s reflection with a much-needed and massive Thank You to everyone who has contributed to making this crazy year one of our best yet. 

It’s no secret that pace has been the name of the game this year. With so much talk of inflated rounds, bubbles, and bull markets, we’ve remained firm in our core belief: that exceptional talent can come from anywhere and focused on investing and supporting those founders we believe are building the businesses that will help shape the future we want to be a part of. It’s been no mean feat! This year, we’ve invested in 50 new pre-seed and seed-stage companies building everything from the technology to simplify borderless transactions for commerce across Africa to contextual search tools to help improve workplace knowledge.

And while we’ve increased our pace of investment, we’ve also doubled down on the support we provide to our portfolio companies once they become part of the Seedcamp Nation, building our core team and (Read more...)

Seedcamp 2021 Year in Review


This post is by Kate McGinn from Seedcamp


50 new companies, £4Bn+ in follow-on funding, and two Seedcamp companies list publicly 

It feels like a daunting task to reflect back on what has arguably been the busiest in our 14-year history at Seedcamp. 2021 has been a year of incredible highs, with some amazing successes and reasons to celebrate across our core team and portfolio companies. We’d be remiss to overlook that — with all the highs — it’s also been a challenging year; both globally and for many of us personally. So, we start this year’s reflection with a much-needed and massive Thank You to everyone who has contributed to making this crazy year one of our best yet. 

It’s no secret that pace has been the name of the game this year. With so much talk of inflated rounds, bubbles, and bull markets, we’ve remained firm in our core belief: that exceptional talent can come from anywhere and focused on investing and supporting those founders we believe are building the businesses that will help shape the future we want to be a part of. It’s been no mean feat! This year, we’ve invested in 50 new pre-seed and seed-stage companies building everything from the technology to simplify borderless transactions for commerce across Africa to contextual search tools to help improve workplace knowledge.

And while we’ve increased our pace of investment, we’ve also doubled down on the support we provide to our portfolio companies once they become part of the Seedcamp Nation, building our core team and (Read more...)

Product Summit 2021


This post is by Precious Oyelade from Seedcamp


Every year at Seedcamp we bring together leaders in technology and product from across our community and the wider tech ecosystem. For the third year in a row, we invited the Seedcamp Nation to explore the latest tech and product frameworks virtually via Hopin, compered by our very own Venture Partner, Devin Hunt and Community Manager Precious Oyelade.  Over three afternoons from 25-27th May we had over 140 guests tuning in from over 25 countries to hear from a specially selected speaker line-up. Their insights challenged our community’s approach to key areas for startup success such as hiring, decision making and customer-centricity. Check out our Talent Manager Alex Lewis’ 10 Talent & People Takeaways from the Summit.

Special thanks to all our speakers who played a part in making Product Summit 2021 a success: Andy Budd, Kate Leto, Sharon Anne Kean (Wise), Ben Sauer, Louis Majanja (Ajua), Andy Ayim, Tyler Christie, Bikram Bose (Automata), Valerio Magliulo and Karin Nielsen. Huge thanks to all of our guests for tuning in – we trust new ideas were inspired, and we’re pleased to share some of these insights with the wider community too.

Check out the full Product Summit playlist below, and let us know what you think. You can dive deeper into the agenda and find the decks here. Next year we’ll go hybrid!

Product Summit 2021 Playlist

Day 1

Andy Budd – The 5 Dysfunctions of a Design Team
Kate Leto – Hiring Product Managers: Using Product EQ to go beyond (Read more...)

Hopin buys two more companies as it triples down on video focus



Hopin, a unicorn best known for its online events-hosting service, announced this morning that it has acquired two more companies. The smaller concerns, Jamm and Streamable, were acquired in deals that Hopin declined to detail.

However, in an email to TechCrunch, Hopin CEO Johnny Boufarhat said that both companies were “early-stage” concerns. We can infer deal scale from the comment.

Hopin has operated with an acquisitive bent in recent months, announcing an acquisition of StreamYard for $250 million in January in addition to today’s deals.

Jamm sells what it calls “1-click video collaboration for teams,” while Streamable helps other companies upload and stream their videos. After acquiring StreamYard, which provided video livestreaming services, it’s not hard to discern that video is the locus of Hopin’s checkbook focus.

Boufarhat agrees, explaining to TechCrunch that its latest purchases will help his company “build even more technology for customers to make professional-grade video capabilities easily accessible at scale.” The CEO added that his company is “unofficially” calling its efforts “an ecosystem of connection powered by all aspects of video.”

The total addressable market (TAM) for that vision is likely larger than the online-events work that Hopin is best known for, or even the hybrid online/offline events market that the company was originally born to support.

When Hopin announced its StreamYard buy, it had purchased a company with material revenues. Boufarhat’s team decided to keep the startup alive as a standalone product. As Jamm and Streamable are earlier-stage affairs, will they receive (Read more...)

Hopin confirms $400M raise at $5.65B valuation



This morning Hopin, a virtual events platform and video-focused software service, announced that it has closed a $400 million Series C. The new capital values Hopin at $5.65 billion. Both numbers match prior TechCrunch reporting that the company was targeting a $400 million raise at a valuation of between $5 billion and $6 billion.

Andreessen Horowitz (a16z) and General Catalyst (GC) co-led the round, as TechCrunch reported was likely. Prior investor IVP also took part in the round.

For Hopin, the round is another rapid-fire funding event in a string of such transactions. The company has seen scorching revenue growth in recent quarters, reaching $70 million ARR today, its CEO and founder Johnny Boufarhat told TechCrunch in an interview.

As part of the transaction, recent a16z hire Sriram Krishnan will join Hopin’s board. According to Boufarhat, Hopin had hoped to hire Krishnan before he took his job at the venture firm.

Hopin has scaled rapidly from its now-dated $20 million ARR milestone that it announced in Q4 2020. But not all of that growth has been organic. Hopin recently bought StreamYard, a company that brought $27 million worth of ARR to the combined entity. Hopin spent $250 million on that deal, a transaction that was announced in January of this year.

The company has raised $565 million since February of 2020, it said in an email.

According to Boufarhat, Hopin intends to invest heavily in its product and engineering functions. The CEO stressed during a call that he (Read more...)

Why are we still dating LinkedIn in 2021?



Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

Natasha and Danny and Alex and Grace were all here to chat through the week’s biggest tech happenings. Before we get into this week’s show, make sure to check out all the news here about how Equity is expanding, and becoming even more of a thing in 2021! We are beyond hyped about it.

Coming on the back of such a wild news week, we had to cut and cut from the notes doc to get the show to size. So, here’s what made the cut:

VCs are chasing Hopin upwards of $5-6B valuation



Virtual events platform Hopin is hopin’ for a mega valuation.

According to multiple sources who spoke with TechCrunch, the company, which was founded in mid-2019, is running around the fundraise circuit and perhaps nearing the end of a fundraise in which it is looking to raise roughly $400 million at a pre-money valuation of $5 billion for its Series C. Two sources implied that the valuation could reach as high as $6 billion, but with greater dilution based on some offered terms the company has received. The deal is in flux, and both the round size and valuation are subject to change.

One source told TechCrunch that the company’s ARR has grown to $60 million, implying a valuation multiple of 80-100x if the valuation we’re hearing pans out. That sort of multiple wouldn’t be out of line with other major fundraises for star companies with SaaS-based business models.

Hopin has been on a fundraise tear in recent months. The company raised $125 million at a $2.125 billion valuation late last year for its Series B, which came just a few months after it raised a Series A of $40 million over the summer and a $6.5 million seed round last winter. All told, the roughly 20-month-old company has raised a known $171.4 million in VC according to Crunchbase.

When we last reported on the company, Hopin’s ARR had gone from $0 to $20 million, while (Read more...)