Stay on Top of Enterprise Technology Trends
Get updates impacting your industry from our GigaOm Research Community
After raising $20 million last year, social media dashboard Hootsuite announced that it has raised another $165 million in a Series B funding round.
The round was led by Insight Venture Partners and included participation from Accel Partners and existing investor OMERS Ventures. The money will go toward international expansion, which CEO Ryan Holmes says will include hiring in Latin America and Europe.
“Our focus during the last couple years on just building this business on social media,” Holmes says. “We’ve effectively gotten to where we have in just under $5 million in the company.”
Hootsuite said in blog post recently that its second quarter revenue had grown 300 percent year on year, though the company offered no details on the raw numbers. It also said it now had more than 300 employees.
The company has also added new features to its dashboard, offering hacking protection to enterprise outfits and the ability to employ assignments to multiple users of an account. Now in its fourth year of operations, Hootsuite says that it just surpassed seven million users and is used by people in more than 156 countries.
“We’re looking at Latin America, we’re continuing in Europe, and we want to bring in engineering talent from the best and brightest companies around,” Holmes said. “It’s going to be really important for us over the next year.”
Holmes says that the company is also interested in acquiring companies compatible with Hootsuite’s vision of specialized apps for social management. He adds that the company is in talks with a few startups now, but declined to give specifics.