HootSuite Raises $165M in Series B Financing

HootSuite, a Vancouver, Canada-based social media management company, has raised $165m in Series B financing.

The round was led by Insight Venture Partners, with participation from Accel Partners and existing investor, OMERS Ventures. In conjunction with the funding, Jeff Leiberman, Manager Director at Insight Venture Partners, Ryan Sweeney, Managing Partner at Accel Partners, and John Ruffolo, Chief Executive Officer of OMERS Ventures, joined HootSuite’s Board of Directors.

The company intends to use the capital to expand into new markets, accelerate product growth, invest in additional sales and marketing resources, and continue evaluating strategic acquisition opportunities.

Led by Ryan Holmes, CEO, HootSuite provides businesses and organizations with a social relationship platform to collaboratively execute social media strategies across multiple social networks from one web-based dashboard. It can help launch marketing campaigns, identify and grow audience, and distribute targeted messages. The platform also aloows users to streamline team workflow with scheduling and assignment tools and reach audiences with geo-targeting functionality. Social network integrations include Facebook, Twitter, LinkedIn, and Google+ Pages.
Today, HootSuite has over 300 located in Vancouver, Toronto, San Francisco, New York, Hong Kong, London, Sydney, etc.
It has more than 7 million users in nearly every country around the world. Enterprise customers include PepsiCo, Virgin, Orange, Sony Music, Telus, HBO, WWF, UPS, Panasonic, and 237 of the Fortune 500 companies.



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