HootSuite raises additional $60 million in funding, acquires Zeetl

Dec 19 2017, 8:12 pm

HootSuite, the world’s most widely used social relationship platform, today announced it has closed US$60 million in financing led by a large Boston-based asset manager. Existing investors Accel Partners, Insight Venture Partners and OMERS Ventures participated, as did technology lender, Silicon Valley Bank. This latest investment brings Hootsuite’s total financing to-date to US$250 million.

“This financing will help us scale even faster on a global level and bring the most innovative products to market. The strong commitment from investors during this time of amazing growth marks an exciting milestone for Hootsuite,” said Ryan Holmes, CEO of Hootsuite.

Additionally, Hootsuite has acquired Zeetl, a social telephony company, to integrate new voice technology into its widely adopted social relationship platform. Through the acquisition of Zeetl, Hootsuite plans to add a new voice solution to better empower customer service teams around the world. This follows the company’s recent acquisition of social campaign management platform, Brightkit.

“Acquisitions form an important part of our growth strategy,” added Holmes, “We’re expecting big things from the brilliant team at Zeetl and Brightkit and are looking forward to getting this technology into the hands of our customers.”

Today’s news builds on strong momentum for Hootsuite including reaching more than 1600 enterprise customers, surpassing 10 million users in 175+ countries and the addition of key executive hires. Global expansion includes a growing roster of enterprise customers in a variety of industries such as NHL, Sony Music Entertainment, Adidas, eBay, AstraZeneca US, Orange, Australia Post and one of the top three companies in the North American insurance vertical.

DH Vancouver StaffDH Vancouver Staff

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