Hotmart Valuation, Funding & Investors

Hotmart is valued at $1B as of March 2021.

Last Hotmart valuation

$1B

Series C · Mar 2021

Last Hotmart funding round

$130M

Series C · Mar 2021

Cumulative funding Hotmart raised

$130M

across 1 funding round

Key investors in Hotmart

  • TCV
  • Alkeon Capital

Hotmart Overview

About Hotmart

Hotmart is a Brazil-headquartered content distribution platform founded in 2011 that facilitates sales of digital products like online courses, ebooks, videos, and software. Market leader in Latin America, the company operates offices in Spain, Colombia, Mexico, and the Netherlands while expanding globally through affiliate commission models.


Founded

2011

HQ

Brazil

Status

Privately held

Customer focus

B2B & B2C

Revenue model

Commission, Subscription

Valuation

$1B (Mar 2021)

Hotmart Valuation

Hotmart is currently valued at $1B, based on its Series C in March 2021.

The $130M round was led by TCV, with participation from Alkeon Capital.

Hotmart valuation by funding round

Hotmart valuation by funding round
DateStageValuation
Mar 2021Series C$1B

Hotmart Funding History

Hotmart has raised a total of $130M across 1 funding round.

Hotmart funding rounds

Hotmart funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2021Series CTCV (lead); Alkeon Capital$130M$1BHotmart is a global cloud-based platform empowering creators to build, run, manage, and grow digital businesses, with active creators in over 100 countries and transactions reaching consumers in more than 185 countries. On March 30, 2021, it raised $130 million (R$735 million) in a Series C round led by TCV, with participation from Alkeon Capital and existing investors including Koolen & Partners, General Atlantic, GIC, and Accomplice. Funds were allocated to product innovation, organic international expansion, and mergers & acquisitions, following the 2020 acquisition of Teachable, whose combined gross merchandise value more than doubled year-over-year. The round strengthened Hotmart's shareholder base with TCV's experience from companies like Netflix, Spotify, Airbnb, Facebook, and LinkedIn. A prior valuation of $1 billion was noted from March 2020, separate from this round. Later developments included workforce adjustments, with a 12% staff cut (227 employees) in 2022 amid slower post-pandemic growth, retaining 1,700 employees described as part of a healthy, profitable operation. Hotmart had explored an IPO in 2021 targeting $500 million but postponed it.

Who has invested in Hotmart?

2 investors have backed Hotmart across its funding rounds, including TCV and Alkeon Capital.

Lead investors include TCV.


Hotmart Investors

Investors in Hotmart by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by Hotmart

Hotmart has acquired 4 companies to date.

Last acquisition by Hotmart was on January 18th 2024. Hotmart acquired Reshape for undisclosed valuation.


Latest Acquisitions by Hotmart

Reshape
ENotas
Teachable
ROBOS.im
Description
Reshape is a Belo Horizonte-based artificial intelligence company in Brazil that specializes in video processing technologies. The firm develops tools for automatic subtitle generation, multilingual translation, audio transcription, and content editing for broadcasters and digital platforms. Reshape's solutions support Portuguese, English, Spanish, and other languages, streamlining post-production workflows. It operates in the media sector, enhancing accessibility for online videos and live streams.
ENotas is a São Paulo-based digital platform for electronic invoicing (NF-e, NFS-e) and payment integrations serving Brazilian businesses. The service automates fiscal compliance and omnichannel receipts for over 50,000 SMEs. Launched in 2018, ENotas processes millions of notes monthly and connects to ERPs like Totvs.
Teachable is an online platform empowering creators to build, market, and sell digital courses, coaching, and downloads without technical expertise. Formerly known as Fedora, it supports video-based classes, ebooks, webinars, group coaching, and tutoring services hosted on custom-branded websites with integrated payment processing. Teachable serves teacher-entrepreneurs hosting courses for hundreds of thousands of students worldwide.
ROBOS.im is a Belo Horizonte-based provider of software solutions for natural language processing and machine learning challenges. Founded in 2016, the company delivers global products addressing text analysis, sentiment detection, and AI model deployment. Its headquarters in Brazil supports expansion into Latin American and international markets with cloud-based NLP tools.
HQ CountryBrazilBrazilUnited StatesBrazil
HQ City
Belo Horizonte
Belo Horizonte
New York City, NY
Belo Horizonte
Deal Date18 Jan 20245 Jul 202216 Mar 202028 Sep 2017
Valuationundisclosedundisclosed$250Mundisclosed
EV/Revenue
EV/EBITDA

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Investments by Hotmart

Hotmart has invested in 1 company to date.

Latest investment by Hotmart was on October 20th 2021. Hotmart invested in BITi9 in their $200K Pre-seed round.


Latest Investments by Hotmart

BITi9
Description
BITi9 is a Brazilian IT firm offering Robbi9, a robotic process automation tool for administrative tasks in finance and HR. Founded in 2015 and headquartered in Curitiba, the platform integrates with ERP systems like SAP and Totvs to handle invoice processing and payroll. BITi9 serves mid-sized enterprises across Latin America with low-code deployment.
HQ CountryBrazil
HQ City
São Paulo
Deal Date20 Oct 2021
RoundPre-seed
Raised$200K
Investors-
Valuation$2M
EV/Revenue
EV/EBITDA

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Hotmart Competitors

Hotmart competitors include listed companies like Xinhua Winshare and Rezolve AI, and private ones like Framer, CommerceIQ, Flexe and PandaDoc.

Public and private companies comparable to Hotmart
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Xinhua WinshareChinaChinaPublicly listed$1.7B$248M$1.9B0.4x
FramerNetherlandsAmsterdamPrivate$50M-$2B40.0x
CommerceIQUnited StatesSan Francisco, CAPrivate--$1B-
FlexeUnited StatesSeattle, WAPrivate--$1B-
PandaDocUnited StatesSan Francisco, CAPrivate--$1B-
Rezolve AIUnited KingdomUnited KingdomPublicly listed$47M($109M)$950M4.0x

Hotmart Public Comps

Hotmart is still privately-owned, but its public comps include Sinclair, Saregama India, Shochiku, China Television Media, MNC Digital Entertainment, Rezolve AI, ProSiebenSat.1 Media, JYP Entertainment, Shiprocket and Bona Film Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Sinclair$3.2B$491M1.4x1.3x9.2x6.7x
Saregama India$100M$36M9.7x8.6x26.8x24.6x
Shochiku$632M$80M2.0x2.1x16.2x19.4x
China Television Media$155M$9M5.8x-97.8x-
MNC Digital Entertainment$216M$73M4.7x-14.0x-
Rezolve AI$47M($109M)23.3x4.0x(10.0x)(19.3x)
ProSiebenSat.1 Media$4.2B($22M)0.6x0.6x(118.4x)5.8x
JYP Entertainment$598M$175M1.1x1.1x3.8x5.4x

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Common questions about Hotmart

When was Hotmart founded?Hotmart was founded in 2011.
Where is Hotmart headquartered?Hotmart is headquartered in Brazil.
Is Hotmart publicly listed?No, Hotmart is a private, VC-backed company.
What is Hotmart's valuation?Hotmart was last valued at $1B in its Series C in March 2021.
How much funding has Hotmart raised?Hotmart has raised $130M across 1 funding round.
What was Hotmart's last funding round?Hotmart's last funding round was a $130M Series C in March 2021, led by TCV.
Who are Hotmart's investors?Hotmart's investors include TCV and Alkeon Capital.
Which companies are comparable to Hotmart?Companies comparable to Hotmart include Xinhua Winshare, Framer, CommerceIQ, Flexe, PandaDoc and Rezolve AI.
How many companies has Hotmart acquired?Hotmart has acquired 4 companies, including Reshape, ENotas, Teachable and ROBOS.im.
What was the largest acquisition by Hotmart?The $250M acquisition of Teachable in March 2020 is the largest acquisition Hotmart has made to date.
How many companies has Hotmart invested in?Hotmart has invested in 1 company, including BITi9.
What was Hotmart's last investment?In October 2021, Hotmart invested in BITi9's $200K pre-seed round.

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