In one of the biggest venture deals Canada has seen in the last decade, Omers Ventures has led a $20 million round in Hootsuite, a social media management service that counts blue chip companies like Pepsi, Fox, and the NBA among its clients.
Hootsuite is headquartered in Vancouver and has grown from 25 people last year to a team of 140, with plans to expand to 250 this year. This mirrors the growth trajectory of its competitor Buddy Media in New York, which recently moved into new offices to accommodate its rapidly expanding staff, and raised $54 million dollars.
The power of Hootsuite is that it allows companies to execute their social media campaigns across multiple networks from a single, simple dashboard. As diverse networks come to play a role in business –Facebook, Twitter, Linkedin, Tumblr, Google+, Pinterest, the list goes on — companies need more help than ever.
HootSuite was founded in 2008 and its major investors include Blumberg Capital and Hearst Ventures, the venture capital arm of the Hearst Corporation.