HootSuite raises $3 million in funding, acquires TwapperKeeper, hires more executives [Updated]

Posted by Knowlton Thomas

Update 1: HootSuite has released the details of its fresh funding.

In less than one year after launching it’s Freemium business model, HootSuite is a profitable, cashflow-positive company. To accelerate this growth, the company is has closed a $3 million debt bridge financing. The company previously raised $1.95 million in Dec. 2009.

Update 2: HootSuite has also acquired TwapperKeeper.

Following previous acquisitions of SwiftApp (now HootSuite for Android), and TwitterBar (now HootBar), HootSuite is proud to announce a new strategic acquisition of TwapperKeeper.com. This social storage and reporting tools is used heavily by academic organizations, conference leaders, marketing departments, customer service teams and PR companies to archive track, monitor, and analyze Twitter data. CEO and Developer John O’Brien will serve as a consultant on the integration of this app within the HootSuite dashboard.

Update 3: HootSuite has expanded its executive team.

The executive team at HootSuite is expanding with the following appointments:

• Steve Johnson CRO – bringing experience as VP of Channel Partners from Constant Contact and Blackbaud, Steve will head up HootSuite channels.

• Darren Suomi VP of Sales – with experience as Global VP - Enterprise Sales at SAP AG and Sales Director as Business Object, Darren will oversee Enterprise Sales team.

• Greg Gunn VP of Business Development – already working with HootSuite over the past few months, Greg is now responsible for building relationships as he did at Terapeak, Research Advanced, TeamPages.com and Idea Builders.

HootSuite will continue to make several other key hires listed on the company’s careers website as the team grows to a targeted 80 hires by end of year.

According to TechCrunch Vancouver-born social media dashboard HootSuite has raised $3 million in additional funding from existing investors.

The startup, created by CEO Ryan Holmes and his team at Invoke Media, has previously raised a $1.9 million financing round that included Hearst Interactive Media, Blumberg Capital, and Geoff Entress.

HootSuite has 2 million users, is cash-flow positive, and was named as Canada's number one startup.

Techvibes caught up with Holmes after his session was titled "Border Patrol: Why it Does (or Doesn't Matter) Where a Startup Plants its Roots" at the recent GROW 2011 Conference in Vancouver.

Company:
Hootsuite Media, Inc.
Website:
http://www.hootsuite.com
Location:
Vancouver, British Columbia, Canada

Hootsuite is the world’s most widely used social media relationship platform. More than 10 million users, including 744 of the Fortune 1000 companies, trust Hootsuite to manage their social media programs across multiple social networks from one integrated dashboard. Learn more about how Hootsuite is revolutionizing communication at http://www.hootsuite.com. more

Company:
Blumberg Capital
Website:
http://www.blumbergcapital.com
Location:
San Francisco, California, United States

Blumberg Capital is an early-stage venture capital firm that invests in exceptional entrepreneurs with transformative ideas. We partner with passionate founders to disrupt markets through innovation and build successful companies. Our team has extensive experience collaborating with companies in Enterprise Software, Digital and Social Media, Mobile and Consumer Internet. Our relevant operational expertise and... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis, hiking, and exploring weird side streets. more



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