-- Matrix Partners leads Series B to fund growth of inbound marketing system --Cambridge, Mass. - May 16, 2008 - HubSpot secured $12 million in series B funding led by Matrix Partners, with participation from existing investor General Catalyst, who led the $5 million series A financing in July 2007. David Skok of Matrix Partners will join HubSpot's board of directors.
HubSpot will use the funding to aggressively hire sales and product staff to support its growing customer base and surplus lead flow. Since HubSpot launched its first product in 2007, its customer base has grown to nearly 400 companies ranging from small, start-up ventures to established companies. Similarly, HubSpot has doubled its number of employees to keep pace with the growing demand for HubSpot's Internet marketing system. http://www.hubspot.com/
"Marketing best practices are changing for organizations of all sizes, especially small companies," said David Skok, general partner, Matrix Partners. "People have the tools to block out interruption marketing such as cold calls, advertising and email blasts. Marketers must adapt and use inbound marketing methods to reach their target market. We believe HubSpot is the leading inbound marketing system and we're excited to help with the continued growth of the company."
HubSpot's online marketing system includes search engine optimization, blogs, social media, lead intelligence and marketing analytics enabling customers to attract and close more leads. HubSpot and its products have been covered by TechCrunch, Guy Kawasaki, Marketing Sherpa, Marketing Profs and PC Magazine. HubSpot has also garnered coveted finalist positions for both the ad:tech and Webby Awards and is currently a finalist for the 2008 MITX Technology Awards.
Brian Halligan, CEO and co-founder of HubSpot, said, "We are our own best case study because we eat our own cooking, so to speak. We have more sales leads than we can handle, so we need more funding to hire more salespeople and grow our product development team. The continued success of our inbound marketing system shows that we're doing something very unique and valuable. This funding is a big vote of confidence that echoes the positive feedback we're hearing from our clients."
About HubSpot
HubSpot is an inbound marketing system that helps small and medium businesses get found online, generate more inbound prospects and convert a higher percentage of them into leads and customers. HubSpot helps companies get found by more prospects using search engine optimization and marketing, leveraging blogs and the blogosphere and engaging in online social media. By using landing pages, lead intelligence and marketing analytics, HubSpot customers convert more prospects into leads and customers. Based in Cambridge, MA, HubSpot Internet marketing can be found at http://www.hubspot.com and the Website Grader free SEO tool is available at http://www.websitegrader.com.