Acquisition Adds Innovative Functionality and Top Talent
CAMBRIDGE, MA, Jun 16, 2011 (MARKETWIRE via COMTEX) — Three months after receiving a $32 million Series D financing round, led by Sequoia Capital, Google Ventures, and Salesforce.com, inbound marketing software company HubSpot announced its acquisition of marketing automation company Performable for an undisclosed sum. The acquisition brings sophisticated ‘middle of the funnel’ marketing functionality to the HubSpot platform, meaning it will enhance businesses ability to turn more visitors into leads and customers. The acquisition also adds top product development, user experience, and engineering talent, starting with veteran entrepreneur David Cancel who will become HubSpot’s Chief Product Officer.
“I’ve known David since before he founded Compete.com,” commented Dharmesh Shah, HubSpot’s co-founder and Chief Technology Officer. “He is not only a brilliant product person but also has a reputation for recruiting exceptional talent, and you can see that in the Performable team. This combination creates the best product development team in B2B software.” Shah himself was recently ranked the top technology innovator by the Boston Globe.
HubSpot founders said this acquisition will enable them to provide innovative marketing functionality to their 4,500 customers, including advanced landing page optimization, lead nurturing with event-triggered communication, and marketing analytics from across the Web, email, social media, and mobile channels. HubSpot customers will be able to access this enhanced functionality immediately.
“Combining Performable’s innovative product features with HubSpot’s all-in-one inbound marketing platform accelerates our goal of transforming the marketing industry,” said HubSpot Chief Executive Officer and Co-Founder, Brian Halligan, who was recently named Ernst & Young Entrepreneur Of The Year. “This acquisition is just the first in a series of partnerships, acquisitions and other announcements you can expect to see from us in the coming months.”
Performable’s 18-person team will join HubSpot at the company’s headquarters beginning June 20, growing the team to over 260 HubSpotters. Leaders of both companies say this integration will allow HubSpot to better serve larger companies, support existing customers as they grow, and provide companies of all sizes with industry-leading marketing tools.
Said Cancel, “My vision is to build a multi-billion-dollar company that transforms the marketing industry. HubSpot is well on their way to doing just that, and I know that adding Performable’s team and technology to the mix will help us get there even faster.”
About HubSpot HubSpot, Inc. offers an all-in-one marketing software platform for small and medium sized businesses. Over 4,500 companies in 31 countries use HubSpot software to increase the number of visitors to their website and convert more of those visitors to leads and customers. Applications in the software platform include website management, blogging, search engine optimization, lead management, marketing analytics, email marketing, landing pages, and social media monitoring. HubSpot is also the developer of the popular website analysis tool, WebsiteGrader.com, which has over 3 million users. HubSpot, Inc. was founded in 2006 and is based in Cambridge, Massachusetts. Find them at http://www.HubSpot.com .
