Google, Salesforce.com and Sequoia Capital have reportedly joined in a $32 million funding round for the marketing software maker HubSpot, reported Silicon Valley's MercuryNews.com. Also joining in the round were HubSpot's existing investors, General Catalyst, Matrix Partners and Scale Venture Partners. The new round of funding brings the total raised by HubSpot, which is based in Cambridge, Mass., to $56 million.
The company's marketing software helps businesses develop sales through channels such as Google, social media and blogs rather than cold calling, e-mail and direct mail.
HubSpot said it will use part of the investment to buy out existing investors.
Google's investment arm, Google Ventures, was among investors funding HubSpot, which specializes in cultivating business leads and sales using blogs, search engines, Twitter and other Internet Age mediums, a worthy investment, reported AFP.
“The fundamental way that people shop, learn, and buy has changed radically in the last few years,” said HubSpot co-founder Brian Halligan. “HubSpot helps transform the way businesses market from outbound marketing (such as) cold calls, e-mail blasts, and direct mail to inbound marketing [such as] Google, blogs, social media, mobile, etc.”
HubSpot, which has grown to 4,000 customers since its launch in 2006, helps websites rank high in Internet search results on the premise that it is more promising to get people's attention when they seek something rather than interrupting them with television ads or other pitches.
“We agree with HubSpot's belief that search engines, social media, and mobile devices have fundamentally changed how businesses should market themselves,” said Google Ventures partner Rich Miner. “We're thrilled to support their efforts to help thousands of small and medium businesses reach potential customers.”
HubSpot also matches businesses with software offered as online services by Salesforce.
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