PR92237

BENGALURU, India, Oct. 12, 2021 /PRNewswire=KYODO JBN/ --

Lead Investors Alkeon Capital, Lightspeed Venture Partners Bet Big on

Many-to-Many Collaboration Technologies

Hubilo, a leading global virtual events platform, announced that in a funding

round led by Alkeon Capital [ https://www.alkeoncapital.com/ ] and

additionally, Lightspeed Venture Partners [ https://lsvp.com/ ] and Balderton

Capital [ https://www.balderton.com/ ], it has raised $125 million in Series B

funding to further the development of the future of events and engagement on

Hubilo's platform.

This brings the company's total funding to US$153 million to date in 18 months.

The investment, one of the largest in the event technology category, signals

the revolution in ways by which people connect, engage, share experiences, and

create opportunities at a time when uncertainty about COVID-19 and its variants

have resulted in canceled events and delayed a return to traditional office

environments.

The Series B funding will further enhance Hubilo's continued Indian and

international growth by allowing the company to develop new business functions,

advance innovation of its platform, strengthen its product, engineering, and

design teams in India, and go-to-market teams in the US, UK, EMEA, and APAC.

Hubilo also plans to set up new sales offices in key regions to expand its

operations and reach a greater volume of customers. In addition, Hubilo will

also increase the overall employees' count by 150% to support its rapid growth

plans and to respond to the increased customer demand for virtual and hybrid

events.

"The power to engage with massive audiences unlocks the potential for more

diverse, geographically dispersed communities to come together for business and

consumer events, remote workforces to stay engaged, and organizations to

rethink the way they hire and train. The potential ahead of us with this

investment is massive," said Vaibhav Jain, CEO and founder at Hubilo. "But what

we've learned over the last 6 years is that an intuitive platform is just table

stakes. Our commitment to event organizers is that we will always provide a

dedicated event team to ensure flawless execution of every event. This is why

so many event organizers make Hubilo their platform of choice."

Hubilo was founded in 2015 to build event tech that increased attendee

engagement at in-person events. When the pandemic hit in 2020, Hubilo saw

revenues dwindling to zero, but rather than declare bankruptcy, they reworked

their technology in 26 days and emerged as one of the leading architects of

large-scale communications with the first version of their event platform.

Hubilo works with some of the globe's largest brands such as Blackboard,

Walmart, United Nations, Roche Pharma, Maersk Shipping, with several others.

Although the Asia Pacific region accounts for 25 percent of Hubilo's business,

the company still plans to further grow in the APAC region, especially in

India. The recent additions to Hubilo's India clientele are Publicis Sapient

(TLG India Pvt Ltd), Nivea, Reliance Jio, Schneider Electric, and George P

Johnson.

"We believe strongly in the global distributed workforce being a megatrend that

will impact all of us in the future. It is clear that the way we collaborate

and connect will need to be rearchitected in order for any global player to

succeed," said Abhi Arun, Managing Partner at Alkeon Capital. "In Hubilo, we

saw a powerful technology capable of connecting the offline and online worlds,

a strong CEO, and an amazing market opportunity that gave us the confidence to

invest."

Now that the Delta variant has cemented the need to rethink every meeting and

event strategy for the long term, companies realize that collaboration and

communication technologies are essential for more than just events. While

Hubilo started as an events technology platform, its solutions go beyond

special occasions. It has successfully supported 10,000 events with more than

two million attendees across more than 100 countries.

"Businesses spend over one trillion dollars

[https://insights.eventscouncil.org/Full-Article/ArtMID/398/ArticleID/1445/2018-Global-Economic-Significance-of-Business-Events] of direct spending on events. In the last couple of years,

15-20% of the enterprise events budget has permanently moved to digital events. Hubilo is one

of the fastest-growing and innovative platforms serving this market. I expect

in the next few years that Hubilo will be broadly acknowledged as a market

leader in the space." said Guru Chahal, Partner at Lightspeed Venture Partners.

As the new era of events unfolds amongst the uncertainty, one thing remains

steady: Hubilo's innovation and commitment to foster human connection through

the reimagination of events.

Click here [ https://hubs.ly/H0YBkTK0 ] to unleash the power of immersive

events.

About Hubilo Technologies Inc:

Hubilo is the virtual + hybrid event platform built for engagement and event

excellence. Hubilo's mission is to drive engagement - first and foremost -

yielding greater business results. With a 24/7 fully dedicated customer success

team, the industry's largest suite of engagement and gamification features, and

robust branding capabilities, Hubilo is the architect of the new reality for

future events. Led by Founders Vaibhav Jain and Mayank Agarwal, the company is

headquartered out of San Francisco, with a base office in Bengaluru in India.

Hubilo's clients include names like Walmart, United Nations, AB InBev, Roche

Pharma, Echo, GITEX, and several others across the United States, Europe, APAC,

Middle East, and Africa. In less than a year, Hubilo has raised a Seed round of

$4.5 million, a Series 'A' round of $23.5 million, and Series 'B' round of $125

million from leading Venture Capital firms like Alkeon Capital, Lightspeed

Venture Partners, Balderton Capital, and Lightspeed India Partners, and several

strategic angel investors.

SOURCE: Hubilo