HootSuite Rakes in Close to $2 Million in New Venture Round


The Twitter-verse continues to get interesting. I've always felt that the returns are to be found around Twitter rather than with Twitter itself, and the venture capital community seems to be acting from the same position. Twitter interaction platform HootSuite just announced a new round of venture capital funding, with $1.9 million in fresh money coming in the door to support its growth efforts.

HootSuite, which was started by Invoke Media in November 2008, has evolved into a brand monitoring, file-sharing and social media integration utility. Only a year later, it has attracted more than 300,000 users, from Time (TWX) to Martha Stewart to the White House to Aol (AOL).BloggingStocks is among the Aol blogs using HootSuite.

Recently, the company has rolled out utilities for the Apple (AAPL) iPhone and WordPress blogging platform, and it already had tools for social networking powerhouses Facebook and LinkedIn on the market.

Participants in the latest round of financing include Hearst Interactive Media, Blumberg Capital, Social Concepts and Geoff Entress. Says CEO Ryan Holmes on the HootSuite blog, "This funding keeps HootSuite on track towards becoming the ultimate social media dashboard. We look forward to reaching wider audiences, and helping all manner of on-line projects and personalities communicate better with their audiences."

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