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Difference Capital invests in Hootsuite

Difference Capital
Difference Capital
Holmes: “This financing will help us scale even faster on a global level and bring the most innovative products to market. The strong commitment from investors during this time of amazing growth marks an exciting milestone for Hootsuite.”

Difference Capital (Difference Capital Stock Quote, Chart, News: TSX:DCF) has placed a bet on Vancouver social media heavyweight Hootsuite.

The investment was confirmed today by tweets sent from the account of Difference Capital Managing Partner Tom Liston. The undisclosed amount of money was part of a the company’s recent $60-million financing, which is believed to be led by Boston-based Fidelity, described by Hootsuite simply as a “prominent global institutional investor”.

Existing investors OMERS Ventures, Accel Partners and Insight Venture Partners also participated, in addition to Silicon Valley Bank.

hootsuite liston

“This financing will help us scale even faster on a global level and bring the most innovative products to market. The strong commitment from investors during this time of amazing growth marks an exciting milestone for Hootsuite,” said CEO Ryan Holmes.

The Series B brings the total Hootsuite has raised to $250-million and reportedly pegs the valuation of the company at $800-million.

For Difference Capital, the investment adds to a spate of recent investment in high-profile Canadian privcos, including BuildDirect, Vision Critical and BTI Systems.

Last month, Holmes teased about the rumoured investment with this tweet.

hootsuite holmes

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About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

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