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HootSuite Raises $165 Million Series B Round

By TechTaffy Desk

hootsuiteSocial media dashboard company HootSuite has raised $165 million in a Series B Financing round. The investment was led by Insight Venture Partners, with participation from Accel Partners and existing investor, Omers Ventures. The investment represents the largest deal ever in Canadian venture capital history for a software company.

Jeff Leiberman, manager director at Insight Venture Partners, Ryan Sweeney, managing partner at Accel Partners, and John Ruffolo, CEO of Omers Ventures have joined HootSuite’s board of directors.

HootSuite will use the financing to expand its global reach, as well as for product growth and sales/marketing resources, among other things. The company is also evaluating strategic acquisition opportunities.

HootSuite lets users manage multiple social networks, schedule messages and tweets, and track brand mentions, among other things. Recently celebrating its fourth birthday, HootSuite has over 7 million users worldwide, according to its website. Hootsuite enterprise customers include PepsiCo, Virgin, Orange, Sony Music, and HBO, among others. Over the last year, HootSuite has grown its staff from 180 to over 300 people.

[Image courtesy: Hootsuite]

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