Social media relationship platform, Hootsuite has raised USD 60 million in Series D funding round at a valuation of USD 1 billion. The round was led by a Boston-based unknown investor as well as existing investors including Insight Venture Partners, Accel Partners, Silicon Valley bank, Fidelity Investments and OMERS Ventures.
The latest round brings the total funding of the company till date to USD 284.9 million in 6 funding rounds from 9 investors. “This financing will help us scale even faster on a global level and bring the most innovative products to market. The strong commitment from investors during this time of amazing growth marks an exciting milestone for Hootsuite,” said Ryan Holmes, Hootsuite’s CEO.
Apart from this, Hootsuite has also acquired Zeetl, a social telephony company that will allow Hootsuite to integrate new voice technology into its platform. “With this acquisition, we’re planning on adding a new voice solution that will better empower customer service teams around the world.”
“Acquisitions form an important part of our growth strategy,” added Holmes. “We’re expecting big things from the brilliant team at Zeetl and Brightkit and are looking forward to getting this technology into the hands of our customers,” stated Ryan.
Currently, the company claims to have 10 million users across the world and recently acquired Brightkit to help individuals and enterprises manage every aspect of their social media campaigns. Till date, the firm had made 9 acquisitions and 744 of the Fortune 1000 companies, uses its services to manage their social media programs across multiple social networks from one integrated dashboard.
It offers 10 products and have competitors such as Okopost, Sendible, Viralheat, Postcron, Publer, Webfluenz, Cubenect and Salesforce Buddy Media.