While the social network’s ad revenue grew 63% year over year in the second quarter, it only added 8 million new users. Interim CEO ...
The company sells technology for web site management, SEO and social media.
Marketing technology vendor HubSpot Inc. has received $32 million in funding from Google Ventures, Sequoia Capital, Salesforce.com and other investors.
The funding marks the fourth investment round for the company, which sells software to more than 4,000 businesses to help them manage web sites and blogs, improve their rankings in search engine results, market through e-mail and monitor social media.
“The fundamental way that people shop, learn, and buy has changed radically in the last few years,” says Brian Halligan, HubSport’s co-founder and CEO . “HubSpot helps transform the way businesses market from outbound marketing to inbound marketing.”
HubSpot did not detail what it will use the funding for beyond saying that part of the $32 million will go to some existing shareholders. All of HubSpot’s previous venture capital investors, including General Catalyst, Matrix Partners and Scale Venture Partners, also took part in the financing round.
“We agree with HubSpot’s belief that search engines, social media and mobile devices have fundamentally changed how businesses should market themselves,” says Rich Miner, a partner at Google Ventures. “We’re thrilled to support their efforts to help thousands of small and medium businesses reach potential customers.”