Hootsuite Raises $60 Million in New Financing to Help Fund M&A

Hootsuite Media Inc. has secured $60 million in new funding as the social-marketing platform inches closer to a possible initial public offering.

This round brings the Vancouver-based company’s total funding to $250 million, according to Hootsuite. The financing was led by a large Boston-based asset manager, which was joined by existing investors Accel Partners, Insight Venture Partners and Omers Ventures, Hootsuite said in a statement. The Wall Street Journal reported earlier this month that Boston-based Fidelity Investments was leading a group providing new financing.