In March 2018, Hootsuite announced $50 million in growth capital from CIBC Innovation Banking. In February 2017, Hootsuite announced its acquisition of AdEspresso, a digital advertisement manager, and LiftMetrix, a leading social media analytics company. As of 2016 AdEspresso has 35 employees and 4,000 customers. In 2016 AdEspresso grew to $4.8 million in revenue, up 60% from $3 million in 2015. Holmes also said the company was looking to make at least two unnamed acquisitions, in addition to employing 100 overseas employees. On August 1, 2013, the company announced that it had raised US$165 million in Series B funding from Insight Venture Partners, followed by Accel Partners and OMERS-all three will now have a seat on Hootsuite's board. In September 2012, Hootsuite acquired Seesmic, a customer relationship management system and competitor. In May 2012, Hootsuite subsequently raised US$50 million in a Series A round, following rumours. OMERS did not buy its stake directly in the company, but rather bought private shares in a secondary transaction from a handful of employees and early investors, said Holmes. In March 2012, OMERS Ventures, the venture capital investment arm of the Ontario Municipal Employees Retirement System, invested $20 million, valuing the company at US$200 million. That same month, Hootsuite received $1.9 million in funding from Hearst Interactive Media, Blumberg Capital, and prominent angel investors Leo Group LLC and Geoff Entress. In December 2009, Hootsuite spun off from Invoke Media and launched officially as an independent company, Hootsuite Media, Inc. In November 2009, the Hootsuite dashboard expanded its offering to support Facebook and LinkedIn, and the capability to use Twitter Lists. The winning idea was Hootsuite, a moniker submitted by a user named Matt Nathan and based upon "Owly", the dashboard's owl logo, as a word play on the French expression "tout de suite", meaning "right now". In February 2009, Holmes offered a $500 prize for renaming the platform, and used crowdsourced suggestions from the dashboard's 100,000+ users as contest submissions. The launch of BrightKit had a very positive reception, thanks to its clean interface and publishing capabilities. Recognizing that many other individuals and organizations across the world were facing similar problems with managing multiple social accounts, Holmes decided that BrightKit could be the solution for other businesses also looking to organize their own social networks. The first iteration of this social media management system launched on Novemin the form of a Twitter dashboard called BrightKit. Finding that there was no product in the market offering all the features he sought, Holmes, along with Dario Meli, David Tedman, and the Invoke team, chose instead to develop a platform of their own that would be able to organize their many social media accounts and networks. In 2008, Holmes needed a tool to manage multiple social media networks at his digital services agency, Invoke Media. The company has more than 16 million users in over 175 countries. The system's user interface takes the form of a dashboard, and supports social network integrations for Twitter, Facebook, Instagram, LinkedIn, Pinterest, YouTube and TikTok.īased in Vancouver, Hootsuite has close to 1,000 staff members in 13 locations, including Toronto, London, Paris, Sydney, Bucharest, Milan, Rome and Mexico City. Hootsuite is a social media management platform, created by Ryan Holmes in 2008. Social media management, social networking service
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