Hootsuite is on a roll. Shortly after the Canadian social management provider announced today it was buying social campaign provider Brightkit and enhancing its social media campaigns, there’s word that the company has landed $35 million in new financing.
The funding, from a group headed by Fidelity Investments, was reported in a story in today’s Wall Street Journal, which cited “people familiar with the matter.” The new money and announcements boost the company’s position and profile as it considers an initial public offering, which appears to be the gameplan.
This morning, the Vancouver-based company announced it was acquiring Brightkit, which offers customized social marketing campaigns. Deal terms were not made public.
At the same time, Hootsuite said it was launching a Campaigns solution based on Brightkit’s capabilities, adding the acquisition’s social contests, sweepstakes, and galleries to its widely used social media management dashboard.
June 5th: The AI Audit in NYC
Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.
Hootsuite is also pointing to a boffo year-in-progress, with new executive hires, a growing Pacific region office in Singapore, support in five languages, and such new enterprise customers as the Red Carnation Hotels, the Brooklyn Public Library, and Hyland Software.
Just a year ago, Hootsuite scored $165 million from a venture capital group that included Insight Venture Partners and Accel Partners.
We reached out Hootsuite, but the company declined to comment.
Via The Wall Street Journal
