The Series A round was led by Lightspeed Venture Partners and Balderton Capital
Hubilo, a California-based SaaS company, has raised $23.5m in a Series A investment round for its virtual and hybrid events platform.
The funding round was led by Lightspeed Venture Partners and Balderton Capital. Other participants of the investment round include Microsoft’s board chairman John Thompson and Contentful’s ex-CEO Chris Schagen.
Lightspeed Venture Partners US partner Guru Chahal said: “In our research, some of the most demanding customers worldwide made it clear that Hubilo was their trusted partner in both these categories, virtual and hybrid.
“We are delighted to lead Hubilo’s Series A funding and use Lightspeed’s global resources to support their exponential growth.”
The Series A round of Hubilo follows a seed round held last November in which the company secured $4.5m investment. The seed round was also led by Lightspeed.
The company was originally established to focus on developing event management software. However, after the event industry was impacted by the Covid-19 pandemic, the company shifted its focus to the virtual event space.
Hubilo is currently developing a digital platform to enable businesses to hold virtual and hybrid events for enhancing their relationships with their customers and partners.
Its platform is said to provide gamified experiences to boost attendee engagement. Besides, it is claimed to provide deep integrations with Marketo and Salesforce platforms to enable organisers to get actionable insights.
The company’s client list is said to include the United Nations, Informa Markets, Roche, Tech in Asia, AWS, Fortune, and Siemens.
Hubilo founder and CEO Vaibhav Jain said: “Our strategy, product features and platform intelligence are expanding the possibilities of what is achievable in the events space, and we’re continually delivering greater value for event organizers, sponsors and other stakeholders.
“We’re excited to welcome our investors onboard as we begin this next phase of global expansion.”
Headquartered in San Francisco, the company also has offices in London and Bengaluru.