Hootsuite has raised $60 million in its latest round of venture capital funding, which now values the Vancouver-based company upwards of $1 billion.
Hootsuite’s social media dashboard is extremely dominant in what was once a fairly competitive space – earlier this month the platform reached 10 million users, representing growth of 3 million users in about a year. Hootsuite’s fremium model has served it well, allowing the dashboard to attract and cater to all levels of user, from social media newcomers to corporates.
The firm now employees 600 people, twice as many who were on its rosters a year ago (its ‘HootHire’ events are clearly paying off), with offices in London and Singapore.
Speaking to Re/code, Hootsuite CEO Ryan Holmes says that this latest funding round will likely be used for international expansion and possible acquisitions. Hootsuite are also working to bring Instagram and Snapchat into the dashboard, too.
“Our customers absolutely want that support, and we want to give it to them,” said Holmes.