HubSpot Moves Into Marketing Automation Space With Acquisition Of Performable
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- Published in DemandGen Reports
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HubSpot VP of Marketing Mike Volpe told DemandGen Report the acquisition will help accelerate company growth. “First, we instantly have more advanced MoFu (middle of the funnel) functionality to sell to customers now,” he said. “Second, it gives us the ability to grow with our customers and serve larger companies. Finally, the combination of these two product teams gives us the best product development team in all of BtoB software, so we will be improving and enhancing our products at a rapid rate.”
The acquisition also adds top product development, user experience, and engineering talent, starting with entrepreneur David Cancel who will become HubSpot’s Chief Product Officer. Performable’s 18-person team will join HubSpot at the company’s headquarters June 20, growing the team to more than 260.
Performable’s three core areas of functionality: landing page capability; analytics; and lead nurturing are designed to enable marketers to leveraged triggered communications based on a variety of activities to follow up on leads based on individual activity. HubSpot customers will be able to access these functionalities immediately.
“This acquisition is just the first in a series of partnerships, acquisitions and other announcements you can expect to see from us in the coming months,” said HubSpot Co-Founder and CEO Brian Halligan, who was recently named Ernst & Young Entrepreneur Of The Year.
The acquisition comes just three months after HubSpot secured a hefty round of $32 million in Series D funding, led by Sequoia Capital, Google Ventures, and Salesforce.com.