Three huge Silicon Valley names — Sequoia Capital, Google (NSDQ: GOOG) Ventures, and Salesforce.com — are investing in HubSpot, as part of the startup’s $32 million fourth round of funding. HubSpot sells all-in-one software used by businesses to get online leads; it includes content management and SEO tools so that businesses can create and promote content relevant to potential customers and also lets them track and follow up with leads.
HubSpot competes with a number of companies with similar offerings, including Eloqua and Marketo, although it says its customer base is substantially larger. The company claims 4,000 customers, up from 1,800 in October 2009 when it raised $16 million in a funding round. This round brings the company’s total backing to date to $65 million. All of its existing investors participated.
CEO Brian Halligan said the company had not planned to raise the additional cash but decided to do so in order to “double down.” Much of the cash, he said, would go toward research and development.
HubSpot is on track to post $25 million in annual sales, more than double last year’s total. Halligan said it was too early for the company to go public — but it does plan to do so eventually.
Here’s a video overview of HubSpot’s features: