TechTaffy

tech:

taffy

HootSuite Raises $165 Million Series B Round

By TechTaffy Desk

hootsuiteSocial media dashboard company HootSuite has raised $165 million in a Series B Financing round. The investment was led by Insight Venture Partners, with participation from Accel Partners and existing investor, Omers Ventures. The investment represents the largest deal ever in Canadian venture capital history for a software company.

Jeff Leiberman, manager director at Insight Venture Partners, Ryan Sweeney, managing partner at Accel Partners, and John Ruffolo, CEO of Omers Ventures have joined HootSuite’s board of directors.

HootSuite will use the financing to expand its global reach, as well as for product growth and sales/marketing resources, among other things. The company is also evaluating strategic acquisition opportunities.

HootSuite lets users manage multiple social networks, schedule messages and tweets, and track brand mentions, among other things. Recently celebrating its fourth birthday, HootSuite has over 7 million users worldwide, according to its website. Hootsuite enterprise customers include PepsiCo, Virgin, Orange, Sony Music, and HBO, among others. Over the last year, HootSuite has grown its staff from 180 to over 300 people.

[Image courtesy: Hootsuite]

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.