HubSpot, the developer of so-called “all in one” marketing software used by 8,000 companies in 56 countries, has raised $35 million in new venture capital, bringing its cumulative total to $90 million.
The Cambridge, Mass., company took in funds from Fidelity Investments, part of the huge mutual funds complex, as well as Cross Creek Capital and Altimeter Capital, in the latest round.
In the past, HubSpot, created by Brian Halligan, a lecturer at Massachusetts Institute of Technology, raised funds from Google (Nasdaq: GOOG) Ventures, Salesforce.com (NYSE: CRM), Sequoia Capital, Charles River Ventures and Matrix Capital Partners.
The latest round indicates plenty of money is still available for social marketing companies. Over the past 11 months, several have gone public, including Jive Software Inc. (Nasdaq: JIVE), of Palo Alto, Calif., as well as Facebook (Nasdaq: FB), following earlier successes of professional site LinkedIn (NYSE: LNKD).
The new HubSpot funds will be used for expanding marketing and sales networks. The company has not reported financial results nor indicated that it's planning an initial public offering.