HubSpot Closes $35 Million Funding Round, Announces Q3 Results
- Published in Industry News
Marketing automation vendor HubSpot announced today that it has closed a new round of financing and shared some of its Q3 2012 financial results.
The company said that it has secured a $35 million mezzanine financing round. Investors in the new round include a "large, unnamed institutional investor," according to a company news release, in addition to Altimeter Capital, Cross Creek Capital and several previous investors. The current round brings HubSpot's total financing to $100 million, according to the company.
"Our goal has always been to build a successful, enduring, independent company that transforms how the world does marketing," said Brian Halligan, HubSpot CEO. “This financing sets us up for big investments in hiring and acquisitions so that we can continue to change the way the world does marketing."
HubSpot currently employs more than 400 people and plans to hire 55 new staffers by the end of the year. The company recently announced plans to open a European headquarters in Dublin, Ireland and issued a major new release of its flagship marketing automation platform in August.
The company announced that its Q3 financial performance indicates an annualized run rate of $60 million in revenue, up more than 80% over the year before.
In addition, HubSpot confirmed that key executive new hires include Ron Gill, CFO of NetSuite, who will serve on the company's board of directors as chair of the audit committee; John Kelleher, the company's General Counsel; and Chris McLellan, who will serve as Chief Security Officer.