HootSuite, the social-media analytics and software firm, has completed one of the largest rounds of venture capital funding in Canadian history.
The Vancouver-based company has secured $165 million in capital, it announced on Thursday. The round was led by New York-based Insight Venture Partners, whose previous investment targets include crowdsourcing startup IndieGogo and online retailer Newegg.
It is also backed by Accel Partners, an early Facebook Inc. (NYSE: FB
, Stock Forum
) investor and OMERS Ventures, an arm of the Ontario Municipal Employees Retirement System. All three will now be represented on the HootSuite board of directors.
“This capital gives us additional resources to expand quickly and strategically into new markets, innovate rapidly and deliver our vision around the world,’’ said HootSuite CEO Ryan Holmes.
HootSuite was launched four years ago and has roughly 300 employees, plus a user base of roughly 7 million.