18 Sep 2011

HootSuite Closes $3M Funding Round, Acquires Twitter Analysis Tool TwapperKeeper

Social media management client HootSuite has closed a $3 million funding round and has acquired TwapperKeeper, a social storage and reporting tool used for Twitter analysis.
HootSuite, which moved to a freemium business model last year, is now a profitable company. In order to accelerate its growth, it has raised $3 million in funding with participation from previous investors Hearst Interactive Media, Blumberg Capital and angel investor Geoff Entress. Millennium Technology Ventures is a new investor in the company as a result of this round.
The financing will allow HootSuite to grow its team, increase advertising efforts, make acquisitions and continue to scale. HootSuite passed 2 million users back in June.
HootSuite has also announced the acquisition of TwapperKeeper, following previous acquisitions of Swift App (which is now HootSuite for Android) and TwitterBar (now HootBar). TwapperKeeper analyzes, archives, tracks and monitors Twitter data. It is being used by company marketing departments, customer service teams, conference leaders and academic organizations. It seems this acquisition was made to help HootSuite improve its Twitter analytics offerings, while perhaps allowing users to archive tweets.
Lastly, HootSuite, which rolled out a wealth of Facebook management tools back in August, has added several new faces to its executive team to join CEO Ryan Holmes, CTO Simon Stanlake and Marketing and Community Director Dave Olson. Steve Johnson will take the lead on HootSuite channels as CRO. Darren Suomi is HootSuite’s new vice president of sales, while Gregory Gunn has been unveiled as vice president of business development.

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