A new venture has launched to help startups who put their customers first. HubSpot has launched HubSpot Ventures, a $30 million fund that aims to bolster and expand the impact of startups focused not just on growing bigger, but on growing better.
Through the venture fund, the business will seek out companies that take the long-view on success by putting their customers first, investing in an inclusive company culture, and delivering highly differentiated products.
“We’re not looking for quick wins with this fund,” said Andrew Lindsay, VP of Corporate and Business Development at HubSpot.
“Yes, we’re investing in companies that we believe will lead to a positive return on investment, but more than just that, we’re investing in companies that are committed to our philosophy of growing better.”
The fund will support companies that are dedicated to building long-term customer relationships instead of optimising for quarterly numbers or other short-term goals.
“The best businesses today focus not just on growing bigger, but growing better – by putting customers first. Growth that sacrifices the customer experience isn’t really growth – it’s debt,” said Dharmesh Shah, co-founder and CTO of HubSpot.
“With HubSpot Ventures, we’re seeking out startups that are aligned with our mission to help millions of organisations grow better and add value to the ecosystem of companies benefiting from the HubSpot platform.”
In evaluating companies for investment, HubSpot Ventures said it will prioritise early stage companies raising funding for a seed, Series A, or Series B round. Investments in later stage rounds, such as Series C and later, will be limited. After the organisation receives an initial investment, HubSpot Ventures will also act as a mentor.