Hootsuite scores $60 million in funding, buys startup

Hootsuite | BCBusiness

The Vancouver tech company may be one step closer to an IPO as its total funding hits $250 million

Hootsuite is $60 million richer thanks to a new round of funding led by Fidelity Investments, a major Boston asset manager—rumours of which have been swirling since The Wall Street Journal reported on the financing back in August before it was officially announced.

That means the Vancouver social media company has now raised a total of $250 million in funding ($165 million of that coming from a single, massive round last summer). Needless to say, that figure is fuelling speculation of an impending initial public offering. Hootsuite’s valuation was not disclosed, but recent reports peg it somewhere south of $1 billion.

The company also announced Thursday that it has acquired Zeetl, a customer service company that lets companies post links to phone numbers through social media.

Partners in Thursday’s round included a lot of familiar faces: OMERS Ventures, Accel Partners, Venture Partners and Silicon Valley Bank. CEO Ryan Holmes told VentureBeat that the new money will help Hootsuite make further acquisitions and grow internationally in markets like Latin America.