The CRM Platform Fund will see HubSpot investing in companies integrating with its platform
CRM platform HubSpot has announced the launch of a $100mn fund to support early- and growth-stage technology companies.
The CRM Platform Fund will see HubSpot invest in companies in the area of customer success, and builds on the 2018 launch of HubSpot Ventures as a $30mn fund for providing financial and educational resources to startups.
“Since launching HubSpot Ventures in 2018, we’ve had the honour 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.”
HubSpot said it had made 12 investments in the past year, including the likes of Clari, Descript, xentral, Goldcast, and Circle – who are active in technologies such as revenue operations and ERP systems. HubSpot said the new CRM Platform Fund would be focused on companies integrating with its CRM offering.
“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 realise 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.”
HubSpot recently announced a physical expansion of its presence into the UK, with a commitment to creating 70 new jobs across England, Scotland, Wales and Northern Ireland.
As Christian Kinnear, SVP of International Sales and Managing Director EMEA at HubSpot told us: “There’s often still a need for human engagement within the customer journey, and our approach to the UK market is very aligned to this insight. While our presence in Dublin has supported our growth in the UK well, we are now ready and excited to take the step through local presence and more face-to-face customer engagement.”