US-based sales and marketing software producer HubSpot has launched a $30m corporate venturing fund called HubSpot Ventures that will invest in emerging companies aligned with its business strategy.
Founded in 2006, HubSpot offers applications that help enterprises including technology and software-as-a-service developers conduct tasks such as sales and customer relationship management.
HubSpot Ventures will primarily target businesses seeking seed, series A or series B funding, though it will also make a limited number of later-stage investments. Each of its portfolio companies will receive personalised mentoring and assessments.
The company’s investment policy insists potential portfolio companies must be developing an software-as-a-service product with the potential to bring value for HubSpot’s ecosystem and customers.
Andrew Lindsay, HubSpot’s vice-president of corporate and business development, said: “We are not looking for quick wins with this fund.
“Yes, we are investing in companies that we believe will lead to a positive return on investment, but more than just that, we are investing in companies that are committed to our philosophy of growing better.”
HubSpot has already backed a series of companies in the past two years, including sales and marketing software provider Drift, business analytics platform developer Grow and document management software producer PandaDoc.