Published on October 13, 2021
HubSpot, the customer relationship management (CRM) platform for scaling companies, announced today the launch of The CRM Platform Fund — a $100 million fund to actively support early- and growth-stage technology companies who share in HubSpot’s mission to help millions of organizations grow better. Through this new fund, HubSpot will invest in more exceptional companies that are committed to helping their customers succeed.
HubSpot Ventures formally launched in 2018 as a $30 million fund aimed at providing startups with the financial and educational resources needed to help them grow. This year alone, HubSpot made 12 investments in fast-growing startups such as Clari, Descript, xentral, Goldcast, and Circle to address the evolving needs of its customer base. From revenue operations to ERP systems, these companies provide valuable tools for customers with a wide range of complex use cases. With the CRM Platform Fund, HubSpot is expanding its commitment to customer-first B2B software companies that recognize the power of the HubSpot CRM Platform and are dedicated to helping further extend its value with integrations and other partnerships.
“Since launching HubSpot Ventures in 2018, we've had the honor 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.”
Through the CRM Platform Fund, HubSpot will invest in companies that expand the impact of HubSpot’s philosophy of growing better by never sacrificing the customer experience for the sake of growth. To receive an investment, portfolio companies must meet the following criteria:
“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 realize 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.”
Today’s news follows HubSpot’s announcement last year that it committed $20 million to social impact investing, with the first allocation going to the Local Initiatives Support Corporation (LISC)’s Black Economic Development Fund. To help educate and inspire the next generation of startup founders, HubSpot also recently announced a partnership with Howard University. The donation from HubSpot supports the creation of Howard University’s first Center for Digital Business, a space for students to receive academic and professional training to help launch careers in business and technology.
To learn more about the CRM Platform Fund, please visit https://www.hubspot.com/ventures.