US based startup HubSpot has recently acquired $35 million thanks to a successful round of funding. The company develops software to help their customers market products and services using social media. Hubspot has its offices in Cambridge, Massachusetts and has previously received $65 million in funding from venture capitalists.
The latest round had participants that had already put money into the venture and also included investors that were new to the company. Altimeter Capital, Cross Creek Capital and Fidelity Investments provided cash for the most recent round of fund raising. Previous rounds have included venture capitalist firms General Catalyst Partners, Matrix Partners, Scale Venture Partners, Sequoia Capital, Google Ventures, Salesforce.com and Charles River Ventures.
Hubspot, which got its start in 2006, will be using the influx of cash to help accelerate international growth and boost acquisitions. The company currently has 8,000 companies that use its software in 56 countries around the world. Another product from the company, MarketingGrader.com, has more than 3 million users and rates more than 250,000 companies every month.
Hubspots claims that it is, “on a mission to replace the world’s annoying, interruptive marketing with marketing that people love. The firm believes that its tools are “powerful, tightly integrated and comprehensive marketing software” and put “personalized inbound marketing into the hands of any business.”
Source: All Things D
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