Venture capital-backed HubSpot files for $100m IPO


nysseVenture capital-backed marketing software provider HubSpot is looking to raise $100m via an IPO, regulatory documents showed.

The company did not say how many shares it was looking to sell and at what price. HubSpot will trade on the New York Stock Exchange under the symbol HUBS.

HubSpot is backed by venture capital firms Sequoia Capital, Scale Venture Partners, Matrix Partners and Charles River Ventures.

The venture firms own a total stake of just over 66 per cent and the filing did not indicate that they planned to sell their shares.

Catalyst is the largest shareholder with a 27.1 per cent stake. Matrix and Sequoia hold stakes of 17.1 per cent and 10.3 per cent, respectively, while Scale and Charles River own 6.8 per cent and five per cent, respectively.

Morgan Stanley, UBS Investment Bank, JP Morgan, Pacific Crest Securities, Canaccord Genuity and Raymond James are acting as underwriters for the IPO.

One of the company’s backers, Matrix, eclipsed the target for its third Chinese fund earlier this year.

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