Virtual events platform startup Hopin Ltd. said today it has raised $125 million in new funding to scale up its platform and support ongoing development efforts.

The Series B round was led by IVP and Tiger Global and included Coatue, DFJ Growth, Accel, Northzone, Salesforce Ventures and Seedcamp.

Founded in 2019, Hopin offers an all-in-one live online events platform designed to connect distributed communities. The company’s platform differs from other videoconferencing services in that it’s designed from the ground up to provide support for conferences, including the management of stages, networking, breakout sessions, sponsors, tickets and analytics.

The COVID-19 pandemic has seen some companies struggle while others have surged ahead and Hopin sits in the latter category. The company’s growth rate is staggering, having gone from 5,000 registered users across 1,800 organizations hosting events eight months ago to 3.5 million users across 50,000 organizations hosting events today. Hopin has also increased its headcount from eight employees eight months ago to 200 across 38 countries today and expects to hire an additional 150 people by the end of the year.

Since announcing its Series A round of $40 million in June, Hopin has continued to sign customers at a rapid rate. New clients include The Atlantic, Miro, the North Atlantic Treaty Organization, The Next Web, TechCrunch, Twitch, the University of California at Los Angeles, the University of Notre Dame and the Wildlife Conservation Society. According to the company, it is signing up hundreds of new organizations every day.

“Hopin is the fastest-growing company we have seen at this stage and has meaningfully exceeded its plan since our last investment in June,” Jules Maltz, general partner at IVP said in a statement. “We have been fortunate to invest in early hypergrowth companies like Slack, Snap and Twitter. Hopin is one of those rare companies with a similar growth trajectory. They have built an extremely customer-centric organization, with an ambitious innovative roadmap that they have the ability to scale quickly — a sure recipe for success.”

Along with the funding announcement, Hopin also announced the beta launch of Hopin Explore. The service allows users to search and discover events of interest across a variety of topics such as technology, entertainment, education, business and entrepreneurship.  The service allows users to search directly for the events they want to attend or browse the events based on popularity, newly added, trending or happening now.

Hopin Explore also assists attendees at virtual events connect with people including interacting face-to-face, networking, doing business or just learning.

Including the new funding, Hopin has raised $171.4 million to date.

Image: Hopin