HubSpot, a well-known player in the growing cloud marketing automation software space, has filed for a $100M IPO under the symbol HUBS. Morgan Stanley, JPMorgan, UBS, Pac Crest, Canaccord, and Raymond James are underwriting. (prospectus)
Like rivals, HubSpot tries to provide an integrated approach to handling a slew of digital marketing channels, including e-mail, search, and social media. The company focuses on mid-market businesses more than large enterprises, and had 11.6K customers and 1.9K marketing agency partners at the end of June.
HubSpot had 1H14 revenue of $51.3M (+46% Y/Y), and a net loss of $17.7M. Sales/marketing totaled $33M, and the deferred revenue balance stood at $32.4M at the end of the period.
The marketing automation space has seen plenty of consolidation, with Adobe, IBM, Oracle, and Salesforce having each made big acquisitions. HubSpot, Marketo (NASDAQ:MKTO), and Constant Contact (NASDAQ:CTCT) are arguably the most prominent independent players left. SAP remains a potential suitor, though it has a partnership with Adobe.