Ryan Holmes on HootSuite's US$60 million financing

Hootsuite gets US$60 mln funding, continues acquiring

Social relationship platform Hootsuite has closed a US$60 million in financing, and acquired a social telephony firm.

According to global media, the six year old firm is now estimated to be worth US$1 billion. It recently landed a US$165 million series B funding in August last year.

The latest round of funding was led by a “large Boston-based asset manager”, said the company. 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 todate 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. This will have Hootsuite offering voice solutions. This follows shortly after the company acquired 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.”

Hootsuite says it currently reaches 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.

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