NEWS17 June 2011

Compete founder sells new business to HubSpot

M&A North America

US— Performable, a developer of web analytics software founded by former Compete CTO David Cancel, has been sold to inbound marketing software company HubSpot.

Performable says its technology provides clients with cross-channel marketing analytics, using individual user profiles to understand customer behaviour across websites, social media, mobile and email. Its software also enables companies to target offers and communications at users based on those behaviours.

HubSpot recently raised over $30m in an investment round led by Sequoia Capital, Google Ventures and With $65m invested to date, Cancel said the acquisition gives Performable access to “a huge amount of capital to build the world’s best marketing software”.

Cancel becomes HubSpot’s chief product officer, based out of the company’s Cambridge, Massachusetts headquarters along with the rest of Performable’s 18 staff.

He established Performable in September 2009, two years after leaving the web analytics firm Compete which he founded in 2000. Compete was sold in 2008 to research group TNS, now part of WPP’s Kantar Group.