HubSpot Raises $35 Million Mezzanine Level for Hiring, International Expansion and Acquisitions
Marketing Pilgrim’s Inbound Marketing channel sponsor HubSpot is firing on all cylinders these days. With over 7,000 customers worldwide and a vision for expanding well beyond where they are today, HubSpot is making this happen through living out a mantra to create marketing that people will love (see video at the end of the post).
The latest evidence of the success and the trust from investors that the growth will continue is the announcement of a $35 million mezzanine level investment. HubSpot is also giving a peek into the private companies plans as they report on 3rd quarter results. A few of the highlights are
- Mezzanine proceeds will be used for hiring, international expansion, and acquisitions.
- We’ve been methodically preparing systems and staff to operate “as if public”
- Q3 results: revenue has hit a $60 million annualized revenue run rate – up over 80% vs this time last year.
- NetSuite (NYSE:N) CFO Ron Gill added joined our board of directors to chair new audit committee
If you have watched the HubSpot story over the past several years it is a study in how to put together a SaaS business and market it well enough to help the product get out in the market place but also develop a following or community that will ensure growth moving forward.
The following quotes come from co-founders Brian Halligan and Dharmesh Shah
“Our goal has always been to build a successful, enduring, independent company that transforms how the world does marketing. We’re generating revenue at an annualized run rate of $60 million, up more than 80% over last year, and we still see a huge market opportunity ahead of us,” said HubSpot CEO and co-founder Brian Halligan. “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 empowers our customers to do inbound marketing right, by attracting leads using extraordinary content and then converting them using highly personalized context,” said Dharmesh Shah, CTO and co-founder. “HubSpot customers have generated more than 56 million leads since we founded the company, which is what happens when you create marketing people love.”
Congratulations to our Inbound Marketing Channel sponsor, HubSpot, and we hope that they continue to create marketing that people love for a long time to come.