B.C. startup Hootsuite gains $20M OMERS boost

Fast-growing social networking software maker Hootsuite Media is set to expand even more, thanks to a $20 million investment from Toronto-based OMERS Ventures. The companies announced the news Thursday morning. “The OMERS Ventures investment marks a new milestone in the growth of Hootsuite,” said Hootsuite CEO Ryan Holmes in a news release issued jointly by the companies. As part of the deal, OMERS Ventures — the investment branch of the OMERS pension fund — will buy equity from Hootsuite’s existing shareholders. Hootsuite media is the Vancouver-based firm that created a dashboard that allows users to link all their social media accounts, including Twitter, Facebook, Linkedin and Google Plus. It allows brands to track social media mentions and the effectiveness of their social networking campaigns.

According to the release, Hootsuite users send 1.5 million messages every day, and the platform’s extended reach gives it access to 1.7 billion consumers.

The platform’s surging popularity has fuelled a rapid expansion. Over the past year, Hootsuite has grown from 25 employees to 140, and plans to add another 100 staff in 2012.

“Hootsuite has revolutionized the way companies create and execute their social media campaigns,” OMERS managing director Derek Smyth said in the release.