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Inbound marketing software business HubSpot has raised $35 million in fresh funding to help it grow quickly, a sign that the six-year-old company could be readying to go public.
HubSpot offers marketing software suites that help businesses attract and convert new customers. The company claims to have 8,000 customers in 56 countries. It now has more than 400 employees, up 100 from a year ago, and it expects to hire 55 more folks before the end of this year.
“Our goal has always been to build a successful, enduring, independent company that transforms how the world does marketing. We’re generating revenue at an annualized run rate of $60 million, up more than 80% over last year, and we still see a huge market opportunity ahead of us,” HubSpot CEO and co-founder Brian Halligan said in a statement. “This financing sets us up for big investments in hiring and acquisitions so that we can continue to change the way the world does marketing.”
The new funding was raised from Altimeter Capital, Cross Creek Capital, and “a large, unnamed institutional investor,” and previous investors. HubSpot has raised a total of $101 million to date.
Cambridge, Mass.-based HubSpot was founded in 2006. Along with the funding, NetSuite CFO Ron Gill will join the company’s board of directors. In mid-October, serial entrepreneur and startup advisor Eric Ries joined HubSpot’s advisory board.
Check out a demo of HubSpot’s software below:
HubSpot T-shirt photo via Shashi Bellamkonda
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