HubSpot set to go viral
November 6, 2012 by Mark
Social media’s HubSpot has announced this week that it has found an extra $35m to grow its business.
Hubspot, an online firm based in Cambridge that helps small business get attention on the web via social media, has been busy raising funds towards expansion. The additional $35m brings its investment capital total to approximately $100m, which it plans to use to add personnel to its Cambridge operation, plus another 50 people to work in the Dublin office, due to open in January.
Despite HubSpot being an online company, all new employees will no doubt require business cards – an opportunity for local printers to showcase their digital business card printing services.
Altimeter Capital is one of the new investors, along with Cross Creek capital and a mutual fund company from Boston, Fidelity Investments.
In its six-year history, HubSpot purchased Cambridge firms Performable and OneForty, eager to acquire a pool of talent in the engineering department. Plans for growth include the acquisition of more companies in the New England area, with an eye towards adding to the stable of social media talent as well.
HubSpot produces software programs for business to manage online blogs and social media sites. The company is popular with those already looking for these types of services.
HubSpot’s future plans include software that produces customized messages to reach clients with complex needs. Profits are derived from the sale of annual subscriptions, with a current customer base of 8,000 situated in 56 countries around the world. Revenues in 2011 exceeded $29m.