Hubspot raises $32 Million in Series D Funding
Date: Thursday , March 31, 2011
HubSpot, vendor of an all-in-one marketing software platform for small and medium sized businesses, raised $32 million in a Series D funding round. The company was founded by Brian Halligan and Dharmesh Shah in 2006. Sequoia Capital, Google Ventures and Salesforce.com, all participated in this round of funding, which made Hubspot the first company that got funded by all these three investors. Apart from them all of HubSpot’s existing venture capital investors – General Catalyst, Matrix Partners, and Scale Venture Partners - also participated in this financing round.
The company’s all-in-one marketing software is used by over 4,000 businesses. Dharmesh Shah, Co-founder and CTO of HubSpot commented, “We founded the company based on a simple premise: Businesses want an easy-to-use, complete and integrated marketing platform that helps them get more leads and customers. We plan to use this new capital to further invest in this ambitious vision and further our existing lead in the marketing software category.”
“We back companies that are transforming their industries,” says Jim Goetz, General Partner at Sequoia Capital. “HubSpot is the emerging category leader in the SaaS marketing sector. Their customer base exceeds that of all the other relevant marketing software companies combined, including Eloqua, Marketo, Genius, and Manticore,” he adds. Part of the $32 million will provide liquidity to some existing shareholders. It has so far raised a total of $65 million in funding.