HubSpot Revenue Hits $77M in 2013, Up 48%January 28, 2014
Boston Business Journal
by Kyle Alspach
HubSpot said Tuesday that revenue grew 48 percent to $77.6 million in 2013, in line with what CTO and co-founder Dharmesh Shah forecast to us in November.
The growth rate and revenue suggest the Cambridge inbound marketing software firm could be a candidate for an IPO — something company executives have said could be pursued as soon as this year. Local tech firm Care.com, by comparison, was on pace for similar revenue in 2013 (with $59 million during the first three quarters of the year) and went public last week.
HubSpot also said it added 239 new employees during 2013, most of them in Cambridge, bringing the company to 668 overall.
Key hires during the year for HubSpot included Joe Chernov, who'd been VP of marketing at Boston startup Kinvey, as VP of content, the company said in its year-in-review blog post.
HubSpot reported it now has 10,595 customers across 56 countries for its marketing software. The software aims to serve as a central place for businesses to attract customers online — through blogging, search-engine optimization and other methods.
HubSpot also launched a product for salespeople last year, Signals, and gained 26,000 users for it.
The privately held firm has raised $100 million in funding since its founding in 2006. Investors include General Catalyst Partners, Matrix Partners, Sequoia Capital and Google Ventures.