CAMBRIDGE, Mass., Oct. 13, 2021 /PRNewswire/ — HubSpot, the customer relationship management (CRM) platform for scaling companies, announced today the launch of The CRM Platform Fund — a $100 million fund to actively support early- and growth-stage technology companies that share in HubSpot’s mission to help millions of organizations grow better. Through this new fund, HubSpot will invest in more exceptional companies that are committed to helping their customers succeed.
HubSpot Ventures formally launched in 2018 as a $30 million fund aimed at providing startups with the financial and educational resources needed to help them grow. This year alone, HubSpot made 12 investments in fast-growing startups such as Clari, Descript, xentral, Goldcast, and Circle to address the evolving needs of its customer base. From revenue operations to ERP systems, these companies provide valuable tools for customers with a wide range of complex use cases. With the CRM Platform Fund, HubSpot is expanding its commitment to customer-first B2B software companies that recognize the power of the HubSpot CRM Platform and are dedicated to helping further extend its value with integrations and other partnerships.
“Since launching HubSpot Ventures in 2018, we’ve had the honor of supporting a wide range of companies that are building the next generation of powerful software for businesses,” said Andrew Lindsay, SVP of corporate & business development at HubSpot. “Our position as a leading CRM platform for scaling companies gives us a unique perspective into the types of tools growing businesses need, which is where we’ve focused our investments. The ventures in our portfolio share our commitment to putting the customer first, and we’re thrilled to launch a second fund to invest in even more innovative, customer-centric companies.”
Through the CRM Platform Fund, HubSpot will invest in companies that expand the impact of HubSpot’s philosophy of growing better by never sacrificing the customer experience for the sake of growth. To receive an investment, portfolio companies must meet the following criteria:
- Are actively raising a funding round (seed through late stage)
- Align with HubSpot’s mission to help millions of organizations grow better
- Have potential to deliver unique value to the HubSpot community
- Are building a leading SaaS-based product
- Embody the values in HubSpot’s Customer Code and Culture Code
“HubSpot and Clari both work to align teams to drive revenue growth — HubSpot through its powerful CRM platform, and Clari through our purpose-built revenue operations platform,” said Andy Byrne, CEO at Clari. “It’s a natural fit to have the support of a company that shares our commitment to helping customers realize their fullest potential by transforming their revenue operations. We’re excited for what the future holds as we work together to bring revenue operations to every business.”
Today’s news follows HubSpot’s announcement last year that it committed $20 million to social impact investing, with the first allocation going to the Local Initiatives Support Corporation (LISC)’s Black Economic Development Fund. To help educate and inspire the next generation of startup founders, HubSpot also recently announced a partnership with Howard University. The donation from HubSpot supports the creation of Howard University’s first Center for Digital Business, a space for students to receive academic and professional training to help launch careers in business and technology.
To learn more about the CRM Platform Fund, please visit https://www.hubspot.com/ventures.
About HubSpot
HubSpot (NYSE: HUBS) is a leading customer relationship management (CRM) platform that provides software and support to help companies grow better. The platform includes marketing, sales, service, operations, and website management products that start free and scale to meet our customers’ needs at any stage of growth. Today, more than 121,000 customers across more than 120 countries use HubSpot’s powerful and easy-to-use tools and integrations to attract, engage, and delight customers.
Named Glassdoor’s #4 Best Place to Work in 2021, HubSpot has been recognized for its award-winning culture by Great Place to Work, Comparably, Fortune, Entrepreneur, Inc., and more. HubSpot was founded in 2006 and is headquartered in Cambridge, Massachusetts. The company’s thousands of employees work across the globe in HubSpot offices and remotely.
Learn more at www.hubspot.com.
SOURCE HubSpot
Author Information
As a detail-oriented researcher, Sherril is expert at discovering, gathering and compiling industry and market data to create clear, actionable market and competitive intelligence. With deep experience in market analysis and segmentation she is a consummate collaborator with strong communication skills adept at supporting and forming relationships with cross-functional teams in all levels of organizations.
Sherril holds a Master of Business Administration in Marketing from University of Colorado, Boulder and a Bachelor of Arts in Psychology from Rutgers University.
