Customer relationship management platform HubSpot has announced two major milestones, as users and profits continue to soar.
With its 15th birthday fast approaching, HubSpot’s latest figures highlight how far it’s come in a short span of time; not only has the company surpassed 100,000 paying customers, but it has also broken $1 billion in annual recurring revenue.
In discussing the recent figures and reminiscing on his time at HubSpot, Co-Founder and CEO, Brian Halligan commented:
“These milestones are a massive testament to each and every customer who has believed in us over the past 15 years; we owe our success to you.
“As I reflect on the past year, I’m deeply humbled that so many companies have chosen HubSpot to help them innovate and adapt during this time of unprecedented uncertainty and change. Our customers are building the next normal, and I’m excited to continue to work alongside them to create a better future.”
Scaling The Mountain
Although it’s always great to celebrate an achievement, it’s more about the journey than the destination – or, as Miley Cyrus might put it, “It’s the climb.”
One of the standout aspects of HubSpot’s journey has been its ability to adapt and change in accordance with market and customer preferences.
Having started out with a focus on inbound methodology and a marketing automation app, it has since evolved into an all-encompassing CRM platform that’s supported by over 600 integrations and hundreds of academy courses.
Another major business decision that has helped catapult HubSpot toward the CRM summit was the commitment to providing services for scaling companies.
Despite making this leap in 2020 – when many businesses were suffering from financial uncertainty due to the pandemic and subsequent lockdown – HubSpot managed to increase website visits by 40%.
Despite making this leap in 2020, HubSpot managed to increase website visits by 40%.
A case example of a scaling company using HubSpot’s offerings during the pandemic is Workable, whose CMO, Doug Ellinger, was full of praise for the service:
“HubSpot’s platform made it easy to create and share resources with the companies and individuals that needed them the most. We know we’ll be able to continue to rely on HubSpot as we enter our next phase of growth.”
While the shift to scaling companies was undoubtedly HubSpot’s most notable recent success, there have been a number of updates and launches in the past four years that have played their part in the ascent:
- The relaunch of the company’s Marketing Hub Enterprise and Sales Hub Enterprise.
- The introduction of the company’s fourth product hub, CMS Hub.
- The implementation of a new pricing model that allows customers to only pay for the contacts they want to market to.
But what’s next for HubSpot? And will they be able to continue with this level of growth?
Staying At the Top
It certainly isn’t easy getting to the top, but sometimes staying there can be just as difficult.
One of the biggest mistakes a company can make is patting itself on the back after reaching its goal. Stagnation and plateauing can very quickly slip into going backward, and once that starts, it can be tough to put on the brakes.
Fortunately for HubSpot, it seems to be showing no intention of being content with where it’s gotten to so far, with the company announcing another major change set to take place later this year.
In what Yamini Rangan, CEO of HubSpot, has described as a move to “make HubSpot easy-to-use and easy-to-buy,” the organization has confirmed that its new seat-based pricing model will come into effect on March 5, 2024.
While it is too early to tell what the new model and affiliated price hike will mean for HubSpot’s business moving forward, it is a clear sign that it isn’t resting on the laurels of its success, and will continue to adapt and innovate.
