This is huge validation not only for HootSuite, but also for marketing technologies as a whole. The space has been hot for quite some time, starting with a spate of acquisitions in the social listening / widget / ads space --Buddy Media (Salesforce), Radian6 (Salesforce), Context Optional (Adobe)--and continuing with recent activity in marketing automation and analytics: Eloqua (Oracle), ExactTarget/Pardot (Salesforce), Marketo (IPO), Tableau (IPO), EdgeSpring (Salesforce) and Neolane (Adobe). So HootSuite's continued growth and success must also be understood in light of the continued Marketing Cloud Wars between Salesforce, Oracle and Adobe.
So what's going on here? Simply put, customer-facing technologies are changing rapidly (the Internet, mobile and social), which is causing buying behavior to change, enabling and necessitating the need for a new marketing technology stack. HootSuite -- if it continues to dominate its space -- might well be a kingmaker in the battle to consolidate this stack. (From personal observation, it seems the majority of CMOs we've talked to at BrightFunnel are using HootSuite; there is tremendous value in this #1 market share rank).
What's mind-boggling about HootSuite's meteoric rise is that it only just celebrated its 4th birthday. As an entrepreneur, it's certainly an inspiring and humbling success story. It appears that next, they've got their eyes set on world domination:
“This capital gives us additional resources to expand quickly and strategically into new markets, innovate rapidly, and deliver on our vision around the world”
- Ryan Holmes, CEO of HootSuite