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{HootSuite raises $165 M in series B round}
Ryan Holmes, CEO, HootSuiteBy Nelson BennettThu Aug 1, 2013 2:00pm PSTRyan Holmes, founder and CEO of HootSuite,[url=http://www.moncler-sale.org]moncler sale[/url], is $165 million closer to meeting his goal of building a $1 billion company.HootSuite today confirmed it has raised $165 million in series B financing through Insight Venture Partners and its partners, Accel Partners and OMERS Ventures.It represents the largest deal in Canadian venture capital history for a software company, according to OMERS Ventures, an early investor in HootSuite, maker of the popular social media dashboard. Last year, HootSuite raised $20 million from OMERS Ventures."In 2012, OMERS Ventures invested in HootSuite because we believed in the integration of social media within the enterprise," said OMERS Ventures CEO John Ruffolo."Since then, HootSuite has shown the market that this trend is not only important, but mission critical for any company looking to be relevant. We are committed to helping the team become the dominant player in this market."Asked by Business in Vancouver for a comment, Holmes tweeted: "We're hiring!"HootSuite, in fact, has been hiring pretty much non-stop for four years. It has grown from 180 people to 300 in a year's time."We're looking to ramp up pretty much across all departments,[url=http://www.moncler-sale.org]moncler on sale[/url]," Matt Switzer, HootSuite's vice president of partnerships and corporate development, told BIV.The company plans to use the latest raise money to continue to expand internationally – an expansion that will likely include some acquisitions."We think there's a bunch of strategic acquisition opportunities, as well as an opportunity to grow the team," Switzer said.Just four years old,[url=http://www.moncler-sale.org]moncler down jackets[/url], HootSuite now has 7 million users and has offices in London,[url=http://www.moncler-sale.org]moncler sale[/url], New York, Hong Kong,[url=http://www.moncler-sale.org]moncler down jackets[/url], San Francisco, Sydney and Toronto.One of the investors, Accel Partners, was one of Facebook's early institutional investors."As the first institutional investor and largest pre-IPO owner in Facebook, we have long believed in the inevitable relevance of social networks and social media at the consumer level," said Ryan Sweeney, managing partner of Accel Partners."What's become apparent is that social channels are also becoming the manner in which small businesses through the Fortune 500 are opting to communicate with their customers and target markets. By every metric,[url=http://www.moncler-sale.org]discount moncler jackets[/url],[url=http://www.moncler-sale.org]discount moncler jackets[/url], HootSuite's social relationship platform is powering this evolution in corporate communications, and we are thrilled to now be their partner as they continue to scale."In a 2012 Q&A, Holmes told BIV he wanted to build HootSuite into a $1 billion company and use the exit profits to build Vancouver's own version of the PayPal Mafia,[url=http://www.moncler-sale.org]moncler on sale[/url],[url=http://www.moncler-sale.org]moncler outlet[/url],[url=http://www.moncler-sale.org]moncler outlet[/url], created when the founders of PayPal used their exit profits to spawn a whole new generation of startups.nbennett@biv.com@nbennett_bivTags: Ryan Holmes, Facebook Inc, HootSuite Media Inc., social media
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