HootSuite set for big things following large investment funding

by Andrew Roach on August 2, 2013

For most people, trying to break into the social media world may seem pointless with the likes of Facebook and Twitter having already dominated the industry for several years.

But Canadian firm HootSuite could be ready to shake up the industry having just finished one of the largest funding rounds ever to be undertaken by a Canadian firm.

The Vancouver-based firm has just been given $165m in capital funding by investors who see the company as one of the hottest tech start-ups in the world.

HootSuite has been around since 2009 and provides a range of software that helps businesses utilised all their social media accounts into one place.

By giving companies the chance to manage all their social media aspects from one point, the service has proven to be a big hit with several major investors getting behind the group.

This has included funding from the likes of Insight Ventures who also got behind crowdfunding site Indiegogo and OMERS Ventures who have ties to the Ontario Municipal Employees Retirement System.

With the company’s software being distributed globally and also being used by many Fortune 500 companies, it has prompted many investors to splash the cash and support one of Canada’s fastest growing companies.

Now the funding has been secured, HootSuite’s leading figures have revealed that they are looking at establish their name as a global leader of the tech world. This was revealed by company CEO Ryan Holmes who told The Globe and Mail that “Our goal is to continue with international expansion. We have customers in every country in the world and we want to continue that growth.”

It’s thought that HootSuite will also continue acquiring other products and companies to help further broaden the appeal of their software. This comes nearly a year after the firm purchased customer management system Seesmic who had been one of HootSuite’s main competitors.

With over 300 employees and a base in what is considered to be the tech capital of Canada, HootSuite are looking to be in a promising position and this latest round of funding could see the firm become one of the biggest names in the social media world within the next year or two.

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Written by: Andrew Roach www.digitcom.ca. Follow TheTelecomBlog.com by: RSS, Twitter, Facebook, or YouTube

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