HubSpot, a US-headquartered provider of customer relationship management (CRM) software, launched a $100m investment vehicle yesterday through its corporate venture capital arm, HubSpot Ventures.
Founded in 2018 and equipped with $30m for its debut fund, HubSpot Ventures invests in enterprise software developers and has built a portfolio that includes two unicorns: enterprise software marketplace G2 and video streaming software producer Mux.
The CRM Platform Fund will back software-as-a-service providers at seed to late stage and will target those the units believes can bring value to the HubSpot community.
Andrew Lindsay, HubSpot’s senior vice-president of corporate and business development, said: “Our position as a leading CRM platform for scaling companies gives us a unique perspective into the types of tools growing businesses need, which is where we have focused our investments.
“The ventures in our portfolio share our commitment to putting the customer first, and we are thrilled to launch a second fund to invest in even more innovative, customer-centric companies.”
HubSpot Ventures has exited four companies since it began investing: conversational software provider Drift, marketing analytics technology developer AdStage and email marketing platform developers Sigstr and Privy.
