On March 15, 2018, Hootsuite announced that it has entered into a credit financing agreement for up to US$50 million in growth capital from CIBC Innovation Banking.
The additional capital will help Hootsuite further verticalize its platform offering for key industries like financial services, government and healthcare, and strengthen its industry-leading ecosystem through existing and new strategic partnerships and integrations.
Hootsuite is a Vancouver-based company and is one of the world's most widely used platforms for social media management.
Osler, Hoskin & Harcourt LLP represented Hootsuite with a team consisting of Martha Martindale and Andrew Herr (Financial Services), Jennifer Lee (Taxation) and Jacob Young and Nathan Whitaker (Corporate).