HubSpot raises $32M from Google Ventures, others
The marketing software company has attracted some big names for its Series D funding round, including Salesforce, Google Ventures, and Sequoia Capital.
HubSpot, a company that makes a number of software products to help small and medium-size businesses handle digital marketing esoterica like search engine optimization and social media, announced today that it has raised $32 million in a Series D funding round from Sequoia Capital, Salesforce.com, and Google Ventures. A report two months ago in TechCrunch suggested that the company's valuation may be north of $200 million now.
"We agree with HubSpot's belief that search engines, social media, and mobile devices have fundamentally changed how businesses should market themselves," Google Ventures partner Rich Miner, who joined the company when it acquired the mobile start-up that became Android, said in a press release. "We're thrilled to support their efforts to help thousands of small and medium businesses reach potential customers."
HubSpot's existing investors--General Catalyst, Matrix Partners, and Scale Venture Partners--also participated in the funding round.
An investment on behalf of Google Ventures doesn't necessarily provide any tea leaves for reading into what's going on in other branches of the Mountain View, Calif., conglomerate, but you can still get a few hints: its portfolio currently consists of start-ups as varied as social TV company Miso, location-based gaming start-up SCVNGR, vacation rentals marketplace HomeAway (which may be prepping an IPO), and perhaps most famously, genetics testing company 23andMe.
A correction was made at 2:34 p.m. PT to correct the spelling of Rich Miner's name.