HubSpot raises $35 million; biz marketing platform

HubSpot raises $35 million; biz marketing platform

Summary: A new way for small- and medium-sized businesses to approach marketing? Altimeter Capital, Cross Creek Capital and other investors think so.

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TOPICS: Enterprise 2.0
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HubSpot offers businesses numerous ways to reach customers.

HubSpot, a Cambridge, Mass.-based startup, has raised $35 million from investors to further develop its inbound marketing platform.

My ZDNet colleague Heather Clancy has written about the company before as one to watch, thanks to how its platform integrates blogging, social media, lead generation, lead management, e-mail campaign management and marketing analytics into a single tool.

Altimeter Capital, Cross Creek Capital and several other unnamed (but public) investors agree. Their investment brings the company's funding total to more than $100 million raised since the startup launched in 2006.

"We're generating revenue at an annualized run rate of $60 million, up more than 80 percent over last year, and we still see a huge market opportunity ahead of us," co-founder and chief executive Brian Halligan said. The company says it has generated more than 56 million leads since its founding.

So where's the money going? The company now has more than 400 employees -- up from 100 a year ago -- and plans on continuing the trend, with 55 new hires scheduled before the end of the year. It will open a European headquarters in Dublin, Ireland in January, to serve the hundreds of customers it has overseas. And the company will undoubtedly continue to develop (and market, obviously!) its software and host its successful Inbound Conference.

HubSpot has always claimed to rid the world of "annoying, interruptive marketing." That's a big goal. If it can manage to do so, increase its customers' sales and successfully scale its platform at the same time, it should be around for many more years to come.

Topic: Enterprise 2.0

Andrew Nusca

About Andrew Nusca

Andrew Nusca is a former writer-editor for ZDNet and contributor to CNET. During his tenure, he was the editor of SmartPlanet, ZDNet's sister site about innovation.

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