Thursday, August 1, 2013

HootSuite Lands $165M, Largest Canadian Software Funding, Ever

It's been fairly quiet over the border in Vancouver, Canada, for funding lately. At least, until today. Vancouver-based HootSuite, which develops social media management tools, said this afternoon that it has raised $165M US in what it says is the largest deal ever, in Canadian venture capital history for a software company. HootSuite develops a popular social media management tool, which lets companies handle their Twitter and other social media interactions. The company said the Series B funding round was led by Insight Venture Partners, Accel Partners, and OMERS Ventures. HootSuite's customers include PepsiCo, Virgin, Orange, Sony Music, Telus, HBO, WWF, UPS, Panasonic, and many others.