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Print Edition StoriesMonday, October 19, 2009
HubSpot hauls in $16M in Series C
By Mass High Tech Staff
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Search engine marketing company HubSpot Inc. of Cambridge has closed on $16 million in its third round of venture funding, according to a blog post by company CEO and co-founder Brian Halligan. The round was led by Scale Ventures of California and saw all previous investors return, including Matrix Partners and General Catalyst Partners.
The new money will be used to boost investment in research and development, including simplifying the company’s product, according to Halligan. HubSpot has experienced 350 percent revenue growth over the last year, the CEO said, and now has more than 1,800 paying customers. The company was co-founded by Halligan and CTO Dharmesh Shah, who has been named one of Mass High Tech’s 2009 All-Stars.
Hubspot offers services to help small businesses manage their online marketing efforts. In February, social media consultant Dan Zarrella joined the staff at Hubspot Inc. as an inbound marketing manager. Zarrella made tech blog headlines twice in the past month, by developing the Twitter mashups Tweetbacks and TweetSuite. Tweetbacks is a blog widget that displays all posts to Twitter that link back to a particular blog post. TweetSuite integrates blogging platform WordPress with the social microblogging site. Zarrella has also written an application that automatically grades content on the likelihood that it will be promoted on social content-sharing sites such as Digg and Reddit.
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