HootSuite lands ‘record-setting’ $165 M in venture capital

HootSuite Media Inc. has netted another $165 million in capital, one of the largest venture capital funding rounds for a software company on record in Canada.

For its Series B financing round, the Vancouver-based social media integration platform and analytics company received funding from Insight Venture Partners, Accel Partners, and its existing investor, OMERS Ventures.

Insight Venture has a track record of investing in companies like Indiegogo, Shutterstock, and TeamBuy.ca, while Accel Partners is best known for investing in Facebook Inc. OMERS’ portfolio includes Extreme Startups and Wave Accounting Inc.

Executives from each firm have now joined HootSuite’s board of directors.

For HootSuite, which recently marked its fourth birthday, this has been an exceptionally good year. In July, it announced its revenue had jumped 300 per cent in Q2, compared to the same period last year.

The company recently leapt from 180 employees to more than 300 around the world, and now serves more than 7 million users globally. Its roster of enterprise customers includes PepsiCo Inc., Virgin Group Ltd., Sony Music Entertainment, and HBO.

Would you recommend this article?

Share

Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.


Jim Love, Chief Content Officer, IT World Canada

Featured Download

Candice So
Candice Sohttp://www.itbusiness.ca
Candice is a graduate of Carleton University and has worked in several newsrooms as a freelance reporter and intern, including the Edmonton Journal, the Ottawa Citizen, the Globe and Mail, and the Windsor Star. Candice is a dog lover and a coffee drinker.

Related Tech News

Get ITBusiness Delivered

Our experienced team of journalists brings you engaging content targeted to IT professionals and line-of-business executives delivered directly to your inbox.