Hubilo raises Rs 170 crore in Series A funding, to hire 150 people

News Journals

5 years ago

New Delhi: Hubilo, an clever digital and hybrid occasions platform, has raised $23.5 million (over Rs 170 crore) in a Sequence A funding spherical led by Lightspeed Venture Partners and Balderton Capital. John Thompson, chairman of the board at Microsoft Corp., and Chris Schagen, former chief advertising officer at Contentful, additionally participated the fundraising.

The San Francisco-headquartered firm, which additionally has workplaces in Ahmedabad and Bengaluru, had in October final yr raised $4.5 million from Lightspeed Enterprise Companions and numerous angel traders.

Cannot imagine we seeded @Hubiloconnect ~3mo in the past! It has been an honor serving this board & I am delighted to welcome… https://t.co/Wv5QjNNu8W

— Hemant Mohapatra (@MohapatraHemant) 1614182206000

Hubilo will use the funding to gas its international enlargement plans and construct management groups in new centres of San Francisco and London. The funding will even be used for tech innovation within the digital occasions area.

The corporate now desires to double its headcount to 300 by June.

The plan is to rent in India and construct on-ground groups within the US and the UK throughout gross sales, advertising, product, design and finance divisions, Founder CEO Vaibhav Jain stated. The corporate has been hiring for management roles and has onboarded senior executives for roles like Director of Design, vp (finance), vp (expertise) head of product, he stated.

“Our technique, product options and platform intelligence are increasing prospects of what’s achievable within the occasions area, and we’re regularly delivering higher worth for occasion organisers, sponsors and different stakeholders,” Jain stated.

Hubilo’s income, in the meantime, has grown 50% sequentially since enrolling its first buyer in April 2020, regardless of in-person occasions gave method to digital ones.

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