AAA Hootsuite finds room for $35m

Hootsuite finds room for $35m

Hootsuite, a Canada-based social media relationship platform, has raised $35m in a new financing round led by Fidelity Investments, according to the Wall Street Journal, which cited people familiar with the matter.

Hootsuite, which is also backed by investors including media company Hearst, reportedly raised the money at an $800m valuation. A source told the WSJ that the company plans to go public in the next few months.

Founded in 2009, Hootsuite produces software that enables companies to manage their social media across multiple networks from one integrated dashboard.

Hearst was one of the initial investors in the company, contributing to a $1.9m series A round in 2009, along with Blumberg Capital and Geoff Entress.

Hootsuite has now raised approximately $225m since it was formed, including a $165m round in August 2013 from Insight Venture Partners, Omers Ventures and Accel Partners.

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