Hootsuite Media Inc. has entered into a credit financing agreement for up to US $50 million in growth capital from CIBC Innovation Banking.
New funding will allow Hootsuite to accelerate expansion in APAC, EMEA and LATAM; further verticalize its platform offering for key industries like financial services, insurance, government and healthcare; and double down on its industry-leading ecosystem through existing and new strategic partnerships and integrations.
Hootsuite is backed by Fidelity Investments, Insight Venture Partners, Accel Partners, OMERS Ventures, Silicon Valley Bank (SVB), Hearst Interactive Media, Blumberg Capital, Millennium Technology Ventures.
Hootsuite has now raised over US $280 million in equity and debt financing:
#SUBSCRIBERS ONLY CONTENT
Where and how did you get your news? Subscribe today to see our research on this and all other subscriber ONLY news. See what you have been missing and be informed!#
photo credit: Hootsuite
Hootsuite Secures US$50 Million of Growth Capital from CIBC Innovation Banking
Funds to accelerate global growth and innovation of the world’s largest social media management solution
VANCOUVER, BC – March 15, 2018 – Hootsuite, the world’s most widely used social media management platform trusted by more than 16 million customers and more than 80 percent of the Fortune 1000, announced it has entered into a credit financing agreement for up to US$50 million in growth capital from CIBC Innovation Banking.
“This financing is a testament to the strong fundamentals behind Hootsuite and our ongoing commitment to global growth and innovation as the clear leader in social media management,” said Greg Twinney, CFO of Hootsuite. “The additional capital will help us scale even faster to bring the most innovative products and partnerships to market globally to help our customers strategically build their brands, businesses, and customer relationships with social.”
The financing will enable Hootsuite to accelerate expansion in APAC, EMEA and LATAM; further verticalize its platform offering for key industries like financial services, insurance, government and healthcare; and double down on its industry-leading ecosystem through existing and new strategic partnerships and integrations.
“Social media continues to proliferate and grow as a strategic tool for organizations across the globe to engage with their diverse clients and stakeholders,” said Mark McQueen, President & Executive Managing Director, CIBC Innovation Banking. “Helping companies innovate in order to meet their clients’ ever-evolving needs is core to our mission as we support them at all stages of their business, from startup to global scale.”
“In the past year, Hootsuite has seen tremendous growth from acquisitions like AdEspresso, to strategic partnerships with market leaders such as Adobe, to recognition such as being named a leader in the Forrester Wave and G2 Crowd,” said Ryan Holmes, CEO of Hootsuite. “This financing positions Hootsuite to continue to create strong value for customers looking to unlock the power of social.”
Media Kit: https://hootsuite.com/about/media-kit
Hootsuite is the most widely used social media management platform, used by over 15 million people around the globe and trusted by more than 800 of the Fortune 1000. Hootsuite’s battle-tested technology, extensive ecosystem, and social DNA help organizations power human connections at scale.
Hootsuite Media Team
Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.
Latest posts by Ted Liu (see all)
- Silofit secures $1M seed financing led by Whitecap and Courtside - November 21, 2019
- Novacap Industries V closes at $940M hard cap - November 21, 2019
- Phoenix Molecular Designs closes $12M seed finanicng - November 20, 2019