Hotmart Receives R$735 Million in Series C Funding Round

On March 30, Minas Gerais-based unicorn Hotmart announced it had received a capital injection of R$735 million ($130 million) via a Series C investment round, which was led by US venture capital fund TCV and included the participation of Alkeon Capital Management.

Founded in 2011 in Belo Horizonte by entrepreneurs João Pedro Resende and Mateus Bicalho, Hotmart is an online platform which distributes digital products such as e-books, online courses and podcasts, amongst many others. It is present in 185 countries, has over 50 million users and, with this latest round of investments, its market valuation has now surpassed the $1 billion mark. 

Following this round of fundraising, Hotmart plans to accelerate its growth strategy via the development of its digital platform, as well as through strategic M&As to enter in new markets. In 2020, for example, the Belo Horizonte-based startup acquired three companies – Wollo, Klickpages and Teachable.

“Since we started, we have had the opportunity to learn with the experience and the support of global partners. TCV has supported leading companies in their respective markets, such as Netflix, Spotify, Airbnb, Facebook and LinkedIn. We are very excited to welcome our new shareholders and to learn from the experience they can bring.”, stated Mr. Resende.