HubSpot Raises $35 Million
HubSpot is a marketing software company based in Cambridge, Massachusetts that has raised $35 million in a mezzanine financing round from Altimeter Capital, Cross Creek Capital, and other previous investors. HubSpot started in 2006 and they have raised $100 million in investment from General Catalyst, Matrix Partners, Scale Venture Partners, Sequoia Capital, Google Ventures, Salesforce.com, and Charles River Ventures.
HubSpot helps their customers manage websites and generate leads. The company launched a new service called HubSpot 3. The software has analytics, SEO, advertising features, and a blogging strategy.
The company hired 100 new people in the last year and now they have a total employee count of 400. They plan to add another 55 by the end of the year.
In terms of revenue, HubSpot hit a $60 million run rate for 2011, which is up over 85% from over a year ago. The company’s valuation is not known. The end goal is for the company to go public, but they want to hit a $100 million run rate first.
The new round of funding will be used for hiring and acquisitions. They are also focusing on international growth.@amitchowdhry or on Google+ at +AmitChowdhry