HubSpot, an inbound software marketing company backed by US-based search engine Google’s corporate venturing unit and enterprise software company Salesforce, has raised $35m in mezzanine funding.
The company raised funds from a large, unnamed institutional investor as well as venture firms Altimeter Capital, Cross Creek Capital, and previous investors. The financing takes Hubspot to more than $100m raised in total
HubSpot chief executive Brian Halligan said the company has annualised revenue run rate of $60m, up 80% on last year, and the financing would be used for big investments in hiring and acquisitions.
Other backers of Hubspot include venture firms General Catalyst, Matrix Partners, Scale Venture Partners, Sequoia CapitalCharles River Ventures, Altimeter Capital, Cross Creek Capital.
HubSpot now has more than 400 employees and plans to add 55 more by year’s end.
HubSpot added the investors also back many publicly traded companies, and HubSpot isimplementing processes to operate “as if public”, it said.
HubSpot also said that Ron GiIl, chief financial officer of NetSuite was appointed to its board of directors as chair of the audit committee. Other recent additions to staff include John Kelleher (formerly of Endeca) as General Counsel, and Chris McLellan (formerly of State Street) as Chief Security Officer.