Hootsuite today announced it has closed $60 million in financing led by a Boston-based asset manager.
Existing investors Accel Partners, Insight Venture Partners and OMERS Ventures participated, as did Silicon Valley Bank. This round brings Hootsuite’s total financing raised to $250 million.
“This financing will help us scale even faster on a global level and bring the most innovative products to market,” said Ryan Holmes, CEO of Hootsuite. “The strong commitment from investors during this time of amazing growth marks an exciting milestone for Hootsuite.”
The “Boston-based” asset manager is believed to be Fidelity Investments. According to a report earlier this month from the Wall Street Journal, Fidelity contributed $35 million to this round, which values the Vancouver-based social media company at a rumoured $800 million. It is speculated that this is Hootsuite’s pre-IPO round.
Additionally, Hootsuite says it has acquired Zeetl, a social telephony company, to integrate new voice technology into its social relationship platform. Through the acquisition of Zeetl, Hootsuite plans to add a new voice solution to empower customer service teams around the world.
“Acquisitions form an important part of our growth strategy,” noted 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.”
Hootsuite boasts more than 10 million users in over 175 countries, including 744 of the Fortune 1000 companies.