OMERS Ventures, the venture capital investment arm of the OMERS Worldwide group of companies, and Vancouver’s very own leading social media management system company HootSuite Media Inc. just announced one of the largest Canadian venture capital transactions to take place in the past 10 years. OMERS Ventures is buying a $20 million ownership stake in HootSuite via a secondary purchase from the company’s existing shareholders.
HootSuite is the social media platform of choice for VcB staff and other enterprise customers include PepsiCo, NBA, FOX Network and TIME. In just over three years, HootSuite has grown to nearly four million users with dashboard sign-ups across six continents.
To date, there have been 1 billion messages sent through HootSuite. Each day 1.5 million messages are sent using the dashboard, with an effective reach of 1.7 billion consumers. The Vancouver headquartered company has grown from 25 people last year to a 140 person team today and is on track to reach 240 people this year. The addition of OMERS Ventures as an investment partner further positions HootSuite to continue this incredible growth.
“The OMERS Ventures investment marks a new milestone in the growth of HootSuite. We’re extremely proud of our company’s trajectory, from a modest beginning three years ago to our current global leadership position. We look forward to working with the experienced team at OMERS Ventures as we continue to deliver world-class social media management, marketing, and analytics product offerings to our customers,” said Ryan Holmes, CEO of HootSuite.
“HootSuite has revolutionized the way companies create and execute their social media campaigns. In a rapidly advancing market, we believe this company has the disruptive DNA to lead this market, and we are very excited to work with HootSuite to help further accelerate their success,” says Derek Smyth, Managing Director of OMERS Ventures.
Expect more announcements of this nature as Ryan Holmes continues his quest to build a billion dollar company. The fact that it’s in Vancouver and looks like will remain in Vancouver is great news for the local tech community.
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