Hootsuite closes US$60m financing round, acquires social telephony company

Vancouver’s Hootsuite has completed a US$60 million round of financing, the company announced September

Hootsuite CEO Ryan Holmes

Vancouver’s Hootsuite has completed a US$60 million round of financing, the company announced September 25, bringing its total financing to US$250 million.

The financing was led by a Boston-based asset manager, the company said, and three existing investors – Accel Partners, Insight Venture Partners and OMERS Ventures – participated, as did new investor Silicon Valley Bank.

“This financing will help us scale even faster on a global level and bring the most innovative products to market,” said Hootsuite CEO Ryan Holmes.

“The strong commitment from investors during this time of amazing growth marks an exciting milestone for Hootsuite.”

The social media company also announced the same day that it has acquired social telephony company Zeetl. The purpose of this acquisition, Hootsuite said, is to integrate voice technology into its platform.

Holmes said acquisitions form a significant role in the company’s growth strategy.

Hootsuite now has 10 million users in more than 175 countries.

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