Hubilo raises $4.5 million, led by Lightspeed to focus on virtual events

Hubilo, the startup which hosts virtual events like Hopin and Cvent, has raised $4.5M in a new funding round led by Lightspeed Ventures.

Hubilo raises $4.5 million
https://pixabay.com/users/jagritparajuli99-8150243/

Hubilo has raised $4.5 million in a new funding round led by Lightspeed Ventures and expects to exceed the $10 million booking rate.

The main investors in the startup include angel investors, like former LinkedIn India CEO Nishat Rao, Freshworks CEO Girish Mathrubootham, Helpshift CEO Abinash Tripathy, and Slideshare co-founder Jonathan Boutelle.

The main clients of the company include Roche, Fortune, and the United Nations. The company will also put the focus on the markets in the Middle East, Europe, United States, and Africa.

Vaibhav Jain, the co-founder, and CEO of Hubilo stated that several customers before the pandemic were enterprises and governments used the platform to organize large events. They also stopped hosting in-person events.

In February, major events canceled due to the COVID-19 pandemic. Consequently, the revenue of Hubilo dropped to zero in February. With just 30 employees and reserves for three months, Jain stated that the company had to choose between shutting down or choosing an alternative model. Hubilo team created a virtual event platform in just a month. The company hosted the first virtual event in March and since that time, the company has never looked back.

Thus, Hubilo is now competing with several other platforms, like Hopin and Cvent. Jain stated that his company differentiates by giving organizers a chance to rebrand virtual spaces and focus on sponsorship opportunities. These include contests, virtual lounges, events feed, and data analytic features which include integration with Marketo, Hubspot, and Salesforce.

So many virtual events are going on that “webinar fatigue” and “Zoom fatigue” have now become catchphrases. Now, event organizers don’t only have to convince people to buy tickets but also keep them engaged during an event.

Zoom
https://www.flickr.com/photos/150479708@N08/

Hubilo “gamifies” the overall features of attending virtual events with features like its leaderboard. This enables organizers to assign different points to different events. Jain stated that the most used feature of Hubilo is the leaderboard.

Have a tip we should know? tips@rhd.news

Most Read

  1. News
    Pandora Papers Financial Leak Shows Us the Secrets of the World’s Rich and Powerful
    3 years ago
  2. Health
    US Supreme Court Rejects J & J TALC Cancer Case Appeal
    3 years ago
  3. Lifestyle
    9 Habits that Drain your Daily Focus and How to Avoid Them
    3 years ago
  4. BUSINESS
    Women’s Demand for Shapewear – the big Trends
    3 years ago
  5. BUSINESS
    Valentino Launches its Cosmetics Line
    3 years ago
  6. Health
    US Promises to Share 60 million Doses of AstraZeneca Vaccines
    3 years ago
  7. Health
    UK Offers Aid Amid Surging COVID-19 Cases in India
    3 years ago
  8. Sports
    Thousands of fans welcome Charlton funeral cortege at Old Trafford
    7 months ago
  9. News
    Brit left fighting for life after train derails in Argentinia
    7 months ago
  10. BUSINESS
    Dubai faces down airline rivals with $50 bln jet orders
    7 months ago
  11. Sunak
    UK’s Sunak brings back Cameron, sacks Braverman
    7 months ago
  12. Sports
    Man United’s Hojlund, Eriksen withdrawn from Denmark team duty
    7 months ago
  13. Health
    Autumn Sneezing Syndrome is on the rise… here’s what you can do
    7 months ago
  14. Canada
    Canada beat Italy to win Billie Jean King Cup for first time
    7 months ago

Follow @rushhourdaily: