

HubSpot has now raised $33m... and is growing fast - smartbear
http://onstartups.com/tabid/3339/bid/10799/Holy-Crap-HubSpot-Has-Now-Raised-A-Total-Of-33-Million.aspx

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staunch
Based on $6 million remaining I'm guessing their burn rate is around half a
million per month. I'd love to hear how that much money is being spent. Unless
there are 30+ employees and significant advertising/infrastructure costs I
can't imagine how to spend that much money responsibly in a really small
company.

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dshah
You're in the ball-park.

The company is actually 90 people now. Revenues grew 350% over the past 12
months (in a down economy).

We do our best to spend the money responsibly. But, it's all relative. When I
was a bootstrapped entrepreneur, even $1 million seemed like a lot of money.

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staunch
90 people!? That's a all the explanation necessary :-)

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dschobel
_Did we need the cash? No, we didn’t need the cash. We had over $6 million in
the bank. But, if I’ve learned one thing about VC fund-raising it’s that not
needing to raise money helps a lot._

VC is a strange beast...

~~~
jwesley
What it helps a lot with are the terms of the deal. If you NEED the money to
keep your company afloat investors are going to put the screws to you for a
much lower valuation.

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jerryji
Pace yourself (much) more on things under your control -- that I fully agree.

"""you should always raise more than you think you need to get to the next
milestone""" -- that I fully agree too

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daremon
With 1600 paying customers and a minimum of $250/month they should generate
~$400.000/month!

