NEWS2 August 2013

HootSuite secures $165m in series B funding

Financials North America

CANADA — Social relationship platform provider HootSuite has secured $165m in series B financing in the largest deal ever in Canadian venture capital history for a software company.

Led by Insight Venture Partners, with participation from Accel Partners and existing investor, Omers Ventures, the funding will be used to continue expanding its global reach, accelerate product growth and innovation, invest in additional sales and marketing resources, and continue evaluating strategic acquisition opportunities.

“HootSuite’s goal is to empower people and brands to reach global markets using social media – to help them connect, inform, and succeed like never before,” says Ryan Holmes, CEO of HootSuite. “This capital gives us additional resources to expand quickly and strategically into new markets, innovate rapidly, and deliver on our vision around the world.”