Cambridge, MA - June 14, 2006 -- HubSpot LLC, a software company offering enterprise-class applications right-sized for very small businesses, announced today that it has raised seed round funding totaling $500,000 from private investors.
The company was founded in 2005 by Dharmesh Shah and Brian Halligan while both were graduate students at MIT. Both have extensive experience in the software industry and started HubSpot to provide the benefit of enterprise software to the millions of very small businesses (VSBs).
"One of the key challenges in the VSB market is that it is highly fragmented," commented Halligan. "We are taking a unique approach that combines the power of Internet marketing and distribution with a highly focused product strategy that provides mass-customization to individual micro-verticals in the long tail of the VSB market." Prior to co-founding HubSpot, Halligan was head of worldwide sales for Groove Networks, the P2P collaboration company founded by Ray Ozzie and acquired by Microsoft in 2005.
About HubSpot LLC
Headquartered in Cambridge, Massachusetts, HubSpot provides a simple and unified set of software applications delivered as a hosted service for very small businesses. The company is privately funded and maintains a web presence at http://www.hubspot.com
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