HootSuite venture capital deal | BCBusiness
Vancouver's own HootSuite landed a $20-million venture capital deal with Toronto-based OMERS Ventures.
Vancouver’s own social media mafia HootSuite lands one of the largest VC funding deals in the last 10 years from OMERS Ventures.
HootSuite is flying high this week as it clinched the largest Canadian venture capital deal in a decade.
The Vancouver-based social media management company announced Thursday that OMERS Ventures, the venture capital branch of OMERS Worldwide, would buy a $20 million stake in HootSuite.
While this is a big win for HootSuite, it’s also a victory for Vancouver. The Twitter dashboard that began in 2008 has grown to a talented team of 140 in just three years and has worldwide visibility. And it seems CEO Ryan Holmes wants to keep growing the little social media company that could rather than looking for a lucrative and speedy exit.
Retaining and offering support to Vancouver-bred companies such as HootSuite might encourage more talented techies to start up (and stay) in Vancouver rather than hitting the road to Silicon Valley at the first available opportunity (an example is Summify’s January buyout by Twitter and immediate exodus to San Francisco).