OMERS Ventures, the venture capital investment arm of OMERS, is buying a $20 million ownership stake in Vancouver-based social media company HootSuite Media Inc.
It’s one of the largest Canadian venture capital transactions in the past decade.
HootSuite is used for publishing and measuring social media marketing campaigns. In just over three years, the website has grown to nearly four million users across six continents. The company has grown from a staff of 25 people last year to 140 today, with plans to reach 240 employees later this year.
“HootSuite has revolutionized the way companies create and execute their social media campaigns,” said Derek Smyth, managing director of OMERS Ventures. “In a rapidly advancing market, we believe this company has the disruptive DNA to lead this market, and we are very excited to work with HootSuite to help further accelerate their success.”
Launched last year, OMERS Ventures invests in venture capital assets on behalf of the $55-billion OMERS pension fund. OMERS Ventures looks for partner companies with strong entrepreneurial teams with potential to become leaders in sizable markets, particularly in the technology, media and telecommunications sectors.