Hubilo raising $125 million from U.S. hedge fund, existing investors

SINGAPORE (Reuters) - Hybrid events platform company Hubilo said it is raising $125 million in a private funding round, backed by new investor U.S.-based hedge fund Alkeon Capital and existing investors Lightspeed Venture Partners and Balderton Capital.

Since Hubilo started out as an events tech firm in India in 2015, its co-founders Vaibhav Jain and Mayank Agarwal have steered the company's aggressive growth in digital events after physical events were scrapped due to the COVID-19 pandemic and Hubilo's revenue dwindled.

Co-headquartered in San Francisco and Bengaluru, the company which has worked with more than 800 clients, said it plans to more than double its 300-strong headcount. Before the Series B funding, Hubilo had raised just $28 million since October 2020.

(Reporting by Anshuman Daga; Editing by Kim Coghill)