HootSuite Closes $3M Debt Bridge Financing

HootSuite, Vancouver, Canada-based social media dashboard which helps teams spread messages, monitor conversations and measure results across multiple social networks including Twitter, Facebook and Linkedin, has closed a $3m debt bridge financing.

Backers include current investors Hearst Interactive Media, Blumberg Capital, and angel Geoff Entress, with participation from new investor Millennium Technology Ventures.

The company intends to use the funds to continue hiring sales, marketing, engineering and executive staff (click here), expand its advertising efforts, make acquisitions and continue to scale its offering.

Following SwiftApp (now HootSuite for Android), and TwitterBar (now HootBar), HootSuite has just acquired TwapperKeeper.com, a provider of social storage and reporting tools used by academic organizations, conference leaders, marketing departments, customer service teams and PR companies to archive track, monitor, and analyze Twitter data. TwapperKeeper.com’s CEO and developer John O’Brien will serve as a consultant on the integration of this app within the HootSuite dashboard.

The company has also expanded its executive team with:
– Steve Johnson CRO, who will head up HootSuite channels.
– Darren Suomi VP of Sales, who will oversee Enterprise Sales team.
– Greg Gunn VP of Business Development, who is responsible for building relationships.

Founded in November 2008, and led by CEO Ryan Holmes, HootSuite helps organizations use the social web to launch marketing campaigns, identify and grow audience, and distribute targeted messages across multiple channels.

The company’s user base includes governments, artists and organizations like The White House, Martha Stewart Living Omnimedia, SXSW and Zappos.



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