Social media dashboard Hootsuite has completed a $165 million Series B round led by Insight Venture Partners, a key investor in Tumblr and Twitter, as noted by GigaOm.
Accel Partners and OMERS Ventures also participated in the round. Previously, Hootsuite had raised $21.9 million in a Series A and follow-up venture round.
Hootsuite CEO Ryan Holmes told GigaOm the company will use the funds for an international expansion, specifically for hires in Latin America and Europe. The startup is also interested in using its new cash for acquisitions.
The recent $165 million investment comes as an impressive validation of the authoritative role Hootsuite plays in its industry. Social media has become an essential part of both consumer and corporate life these days, and Hootsuite has emerged as one of the leaders in managing multiple accounts an services.
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