Hubilo raises $125 million in funding
- ByManjeet Singh | October 12, 2021
The company said on Tuesday that it has raised $125 million (about Rs 943 crore) in funding from Alkeon Capital. The Series B round was also attended by Lightspeed Venture Partners and Balderton Capital. The company has raised a total of $153 million so far.
HUBILO is a platform for virtual events. Chief executive officer Vaibhav Jain said the funds will be used to advance innovation of its platform, improve its product engineering and design teams in India, as well as expand its marketing teams in the US, the UK, Europe, Middle East, and Africa (EMEA) and the Asia Pacific.
Additionally, Hubilo plans to open new sales offices in key regions to expand operations and reach a larger customer base. To support Hubilo’s rapid growth plans and to meet the increased demand for virtual events by its clients, the company will increase its overall employee count by 150 percent.
As part of this expansion, Hubilo is setting up a full-fledged Research and Development division that will conduct a series of experiments to ensure that its platform is future-proofed, Jain told PTI.
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