At HubSpot, we always strive to listen to and act quickly on feedback from our customers. One of the most common pieces of feedback we heard from the startup community last year was that the eligibility criteria to qualify for HubSpot for Startups’ Seed program were too restrictive, with a ceiling of $1 million in total funding and $1 million in total revenue. And research from the PWC/CB Insights MoneyTree Q3 2017 report backs this -- the average seed round increased from $1 million in Q1 2016 to $1.6 - $2 million in 2017, as VC firms moved towards making fewer, larger investments.
To align with industry standards and support even more of these growing startups in 2018, HubSpot is excited to announce today that it has increased the funding ceiling for the HubSpot for Startups program to $2 million.
“When we first set the criteria in 2015, the funding ceiling wasn’t restrictive; however, as the startup market changes, so must we adapt to make sure we’re not leaving great startups behind,” said Kim Walsh, Global VP of HubSpot for Startups.
The HubSpot for Startups program aims to help startups grow and scale faster. Partnering with over 800 of the top seed stage VCs, accelerators, and incubators from around the world, the program gives startups affiliated with these startup partners access to top-notch educational content and marketing and sales software for up to 90% off.
“We’re dedicated to helping seed stage startups get the leg up they need to start acquiring customers,” added Walsh. “That means they need to implement a solid sales and marketing system right from the start. Instead of startups needing to cobble together many point solutions due to tight budgets, we help them bypass that problem and grow their company using the most integrated systems and strategy from the start.”
In addition to increasing the funding ceiling to $2 million, HubSpot for Startups has also simplified its guidelines for eligibility. Startups wishing to apply to the Seed program must meet the following three criteria in order to qualify for access to exclusive educational content and a 90% discount on software:
- Have less than $2 million in total funding
- Be affiliated with an approved HubSpot for Startups partner organization
- Not be a current Marketing Hub Basic, Professional, or Enterprise customer
"Our cohorts have seen such improvement since we partnered HubSpot for Startups, including one that was able to optimize their sales systems so effectively that they got a check on the spot at their last demo," said Lucas Arzola, Director of Operations at Parallel18. "Every piece of content we've seen from HubSpot has been high quality, and is presented in a way that keeps our entrepreneurs engaged all the way through. We look forward to continuing to build on our partnership with HubSpot in 2018."
HubSpot for Startups launched in 2015, and has since grown to more than 800 partners and 2,500 customers worldwide. The program has two offerings, for Seed stage and Series A startups. Partners include venerated US startup-launching giants such as Y Combinator, Sequoia, and Techstars, as well as top-notch global programs such as Station F in Paris, Startup Chile in Santiago, 1000 Startups in India, and Fishburners in Sydney.