Hootsuite Closes $60 Million Financing and Strategic Acquisitions

 

VANCOUVER, BC – September 25, 2014 - Hootsuite, the world’s most widely used social relationship platform, today announced it has closed US$60 million in financing led by a large Boston-based asset manager. Existing investors Accel Partners, Insight Venture Partners and OMERS Ventures participated, as did technology lender, Silicon Valley Bank. This latest investment brings Hootsuite’s total financing to-date to US$250 million.

“This financing will help us scale even faster on a global level and bring the most innovative products to market. The strong commitment from investors during this time of amazing growth marks an exciting milestone for Hootsuite,” said Ryan Holmes, CEO of Hootsuite.

Additionally, Hootsuite has acquired Zeetl, a social telephony company, to integrate new voice technology into its widely adopted social relationship platform. Through the acquisition of Zeetl, Hootsuite plans to add a new voice solution to better empower customer service teams around the world. This follows the company’s recent acquisition of social campaign management platform, Brightkit.

“Acquisitions form an important part of our growth strategy,” added Holmes, “We’re expecting big things from the brilliant team at Zeetl and Brightkit and are looking forward to getting this technology into the hands of our customers.”

Today’s news builds on strong momentum for Hootsuite including reaching more than 1600 enterprise customers, surpassing 10 million users in 175+ countries and the addition of key executive hires. Global expansion includes a growing roster of enterprise customers in a variety of industries such as NHL, Sony Music Entertainment, Adidas, eBay, AstraZeneca US, Orange, Australia Post and one of the top three companies in the North American insurance vertical.

More Information:

About Accel Partners

Founded in 1983, and managing over $9.6 billion in capital, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses.  Accel today invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, California, New York City, London, and Bangalore, as well as in China via its partnership with IDG-Accel. For more information, visit www.accel.com.

About Insight Venture Partners

Insight Venture Partners is a leading global private equity and venture capital firm investing in software, eCommerce, Internet, and data-services companies. Founded in 1995, Insight has raised over $8 billion and invested in more than 200 companies worldwide. Insight’s mission is to find, fund, and work successfully with visionary executives who are driving change in their industries. Insight provides them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit www.insightpartners.com.

About OMERS Ventures

OMERS Ventures is the venture capital investment arm of OMERS, one of Canada’s largest pension funds with more than $59 billion in net assets. As both an institutional angel investor and a later-stage investor, OMERS Ventures is looking for successful companies with significant growth potential and market opportunities. We are seeking like-minded partners with a shared vision of building a vibrant and successful knowledge economy. For more information please visit www.omersventures.com.

About Silicon Valley Bank

Banking the world’s most innovative companies and exclusive wineries, SVB offers diverse financial services, knowledge, global networks, and world class service to increase our clients’ probability of success. With more than $33 billion in assets and more than 1,700 employees, we provide commercial, international and private banking through our locations around the world. Forbes Magazine ranks us among America’s Best Banks and Fortune named SVB one of the best places to work. (Nasdaq: SIVB) www.svb.com.

About Hootsuite

Hootsuite is the world’s most widely used social media relationship platform. More than 10 million users, including 744 of the Fortune 1000 companies, trust Hootsuite to manage their social media programs across multiple social networks from one integrated dashboard. Learn more about how Hootsuite is revolutionizing communication at Hootsuite.com.

Contact:

Cher Lee, @_CherLee_
Senior Communications Manager, Hootsuite
media@hootsuite.com