Hootsuite secures $65 mln in growth funding from CIBC
Hootsuite has secured about $65 million (US$50 million) in growth funding via a credit financing agreement with CIBC Innovation Banking. Hootsuite, a Vancouver-based social media management platform, said the additional capital will help the company to continue to expand in the Asia-Pacific region, Europe and Latin America, and enhance its offering for such key industries as financial services, government and healthcare. Founded in 2008 by CEO Ryan Holmes, Hootsuite reports having more than 16 million customers, including most of the Fortune 1000. CIBC Innovation Banking launched in January with the bank's buy of the assets of Canadian specialty finance firm Wellington Financial.
15 March 2018•3 mins read
