Hootsuite Completes Series B Financing

HootSuite Media Inc. finalized the closing of a $165-million Series B financing round.

The investment was led by Insight Venture Partners, with participation from OMERS Ventures, an existing investor; and Accel Partners. The financing represents the largest deal in Canadian venture capital history for a software company and one of the largest rounds of global venture capital funding.

Insight Venture Partners, and Accel Partners, were represented by Willkie Farr & Gallagher LLP with a team of Rosalind Kruse, Hillel Jacobson, Joshua Halpern and Andrew Prodromos; and by Stikeman Elliott LLP with a team of Ian Putnam, Anne Weintrop, John O'Connor and Craig Broadhurst.

OMERS Ventures was represented by Danial Lam, its Managing Director, Strategic Investments, and General Counsel; and by Bennett Jones LLP with a team of Gary Solway, Jesslyn Maurier and Ben Gliksman.

HootSuite was represented in-house by Paula Pepin, general counsel; and by Osler, Hoskin & Harcourt LLP with a team of Chad Bayne, Kim Wharram, Jason Comerford, Ivan Pankoff, Jay Greenspoon, Arlene Mack, Amelia Miao and Robert Anton.

Dentons acted as counsel to Blumberg Capital II, L.P., a significant shareholder in Hootsuite and a participant in the transaction. The team from Dentons included David Papier and Tim Santoli (Short Hills, New Jersey/New York), Tom Houston (Ottawa) and Jules Lewy (Toronto).
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