Many problems such as node classification and link prediction in network data can be solved using graph embeddings. However, it is difficult to use graphs to capture non-binary relations such as communities of nodes. These kinds of complex relations are expressed more naturally as hypergraphs. While hypergraphs are a generalization of graphs, state-of-the-art graph embedding techniques are not adequate for solving prediction and classification tasks on large hypergraphs accurately in reasonable time. In this paper, we introduce HyperNetVec, a novel hierarchical framework for scalable unsupervised hypergraph embedding. HyperNetVec exploits shared-memory parallelism and is capable of generating high quality embeddings for real-world hypergraphs with millions of nodes and hyperedges in only a couple of minutes while existing hypergraph systems either fail for such large hypergraphs or may take days to produce the embeddings.