Acquisition adds innovative functionality and top talent
Three months after receiving a $32 million Series D financing round, led by Sequoia Capital, Google Ventures, and Salesforce.com, inbound marketing software company HubSpot announced its acquisition of marketing automation company Performable for an undisclosed sum.
The acquisition brings sophisticated ‘middle of the funnel’ marketing functionality to the HubSpot platform, meaning it will enhance businesses ability to turn more visitors into leads and customers. The acquisition also adds top product development, user experience, and engineering talent, starting with veteran entrepreneur David Cancel who will become HubSpot’s Chief Product Officer.
"I've known David since before he founded Compete.com,” commented Dharmesh Shah, HubSpot’s co-founder and Chief Technology Officer. “He is not only a brilliant product person but also has a reputation for recruiting exceptional talent, and you can see that in the Performable team. This combination creates the best product development team in B2B software." Shah himself was recently ranked the top technology innovator by the Boston Globe.
HubSpot founders said this acquisition will enable them to provide innovative marketing functionality to their 4,500 customers, including advanced landing page optimization, lead nurturing with event-triggered communication, and marketing analytics from across the Web, email, social media, and mobile channels. HubSpot customers will be able to access this enhanced functionality immediately.
“Combining Performable’s innovative product features with HubSpot’s all-in-one inbound marketing platform accelerates our goal of transforming the marketing industry,” said HubSpot Chief Executive Officer and Co-Founder, Brian Halligan, who was recently named Ernst & Young Entrepreneur Of The Year. “This acquisition is just the first in a series of partnerships, acquisitions and other announcements you can expect to see from us in the coming months.”
Performable’s 18-person team will join HubSpot at the company’s headquarters beginning June 20, growing the team to over 260 HubSpotters. Leaders of both companies say this integration will allow HubSpot to better serve larger companies, support existing customers as they grow, and provide companies of all sizes with industry-leading marketing tools.
Said Cancel, “My vision is to build a multi-billion-dollar company that transforms the marketing industry. HubSpot is well on their way to doing just that, and I know that adding Performable’s team and technology to the mix will help us get there even faster.”
For additional information about this acquisition or to set up an interview with HubSpot CEO Brian Halligan or another executive, please contact Kara Sassone via email at ksassone@hubspot.com, by phone at 888-482-7768 (extension 5654).
Jim Campbell 9:33 PM on June 16, 2011
Great job HubSpot. Your rise in a very short time has been an inspiration to watch. Keep Going!!
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Wonderful news! Will be very interesting to see MOFU analytics.
Barbara Bix 11:48 PM on June 16, 2011
Congratulations! This is truly a marriage of complementary capabilities and should accelerate the growth of both companies. Good luck!
Thomas N. Zickell 5:57 AM on June 17, 2011
Outstanding Job! ! HubSpot keeps getting better. I am proud to recommend HubSpot when SEO comes up or asked how we changed our page rank, now that I am #1 for my keywords so I am asked allot.
Glad to see you understand you must keep moving forward.
Paul Alves 8:09 AM on June 17, 2011
Great to see "middle of the funnel" companies leading the way to maximized performance by bridging the gap between marketing and sales.
Paul Alves
CEO AG Salesworks
Salvador Trinxet Llorca 9:29 AM on June 17, 2011
Congratulations!
I see the business model of Hubspot in the path of growing and growing their staff and services, which is good for the clients. I will see with attention the Hubspot developments with interest.
Meenakshi @ Marketing Automation 4:11 AM on June 21, 2011
It's such a wonderful news for the 18 people company like Performable to merge with Hubspot. But i wonder will it work for Hubspot?
Anne Stone 1:25 PM on June 23, 2011
WOW! This is great news for your customers - they are going to be more in love with you than ever.
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Eva Dillon 4:17 AM on July 14, 2011
Fantastic news. We are great fans of HubSpot. An outstanding company. Good luck guys. - The DealMaker Team
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I wanted to let you know I think the HubSpot CMS has a BOT I have been getting the same MS Office Spam that is above on my blog. I have even tried to block it nothing helps. Please add something like OpenDNS as this makes us all look bad.
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There are many other solutions still out there, that Hubspot compliments, wonder if any more are being looked at to acquire?
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