Its cloud nine for Cambridge based digital promotion firm HubSpot! The firm assists medium and small industries reach out to potential clients utilizing social media. HubSpot has publicly declared of having raised another 35 million dollars in its current funding sequence.
The prime investors are Cross Creek Capital, Altimeter Capital and as per a few insiders possessing information on the deal, Fidelity Investments, the Bonton based mutual fund player, has also been roped in. These new engagements carry HubSpot’s entire fund raising amount to around 100 million dollars since the firm’s inception in 2006.
[box_dark]Additions and Future Plans[/box_dark]
Following the funding spree, now is the employment generation time for HubSpot! Brian Halligan, chief executive of HubSpot confirmed that the firm would be recruiting more staff in Cambridge, which already houses 400 employees. Moreover, HubSpot plans to start a new administrative center in Dublin probably around January and employ around 50 people in that office in 2013.
The additional funds would also cater to the marketing firm’s other expansion plans through acquisition of small marketing firms. HubSpot formerly procured a couple of Cambridge based start-up companies, One forty and Performable, largely due to their engineering aptitude. According to Halligan, these acquisitions have turned out to be great decisions. The prime workforce was retained, as it would have been a pretty hard task to fill those positions from outside. Moreover, the firm is incorporating executives and board members possessing public company exposure. CEO J.D. Sherman, who acted as Akamai Technologies’ CFO, is among them.
[box_dark]An insight into the profile[/box_dark]
HubSpot’s software helps medium and small enterprises to control social media and online marketing on popular platforms like Twitter and Facebook, an approach called ‘inbound marketing’ by HubSpot.
In the month of August, HubSpot launched the latest version of its promotion software, HubSpot 3. This particular software allows companies to send more customized messages to existing as well as prospective clients. A wonderful tool to reach out to larger customers with more extensive and complicated sales cycles!
The company derives most of its business from yearly software subscriptions that are priced at 2,400 dollars and above. Going by what trusted resources reveal, the promotion firm has 8,000 clients spanning across 56 countries. According to chief executive Halligan, HubSpot’s current annual revenue is 60 million dollars, a considerable rise when compared to 2011 annual revenue of 29 million dollars.
With HubSpot registering promising growth, more expansions are on the cards. In Halligan’s words, the field is all set to make it ‘harder’ and ‘faster’.
