U.S. venture capital giant hunting potential Australian unicorns

One of the world’s biggest venture capitalists is looking for investment opportunities in Australian startups and new technology beginners in the hope of finding the next unicorn.

Multi-billion-dollar software marketer Hubspot says it is targeting Australia as part of a world-wide sweep for promising technological investments for their $30m venture fund financing.

Hubspot joins the growing number of international venture companies seeing Australia’s potential for producing massive companies since the advent of local startups like billion-dollar monolith Atlassian, which has captured the imagination of the world.

Hubspot’s vice-president of corporate and business development, Andrew Lindsay

“The next Atlassian to come up…we would love to be a supporter of that business, so we’re on the lookout,’ Hubspot vice-president of corporate and business development Andrew Lindsay told Fairfax media.

Hubspot now joins other international venture capitalists like Salesforce in looking at Australia opportunities.

Salesforce has already established a $50m fund for promising Australian startups.

Mr Lindsay told Fairfax his company was looking for technology businesses that had strong leadership with a focus on customer feedback and research.

He favoured companies that tended to support feedback from customers and research, even if it sometimes contradicted what the founders of the company thought clients needed.

Hubspot was founded in 2006 and has risen to be a significant force in world technology as a developer and marketer of software products for inbound marketing and sales.

The company turns over $A759 million a year providing tools and servicing for social media marketing, content management, web analytics and search engine optimisation.

Listed on the New York Stock Exchange, Hubspot has a market cap of $A12.4b and joins other successful technological companies with a global reach by investing in startups.

Mr Lindsay told Fairfax his company’s intention was to contribute to the early stage funding of startups and burgeoning businesses promoting ideas to help small businesses streamline apps and data sets.

There were no geographical boundaries on Hubspot’s quest for aspiring young companies,” he said.

“We look anywhere – those companies could be in the United States, they couple be in APAC or in Australia,” he told Fairfax.
Hubspot’s investment portfolio includes contributing to a multi-million-dollar Series A round for Crossbeam, a Silicon Valley startup that helps businesses establish when their customers overlap so they can see which other companies it should join as a partner.