HubSpot
HubSpot the Boston-based marketing software and CRM platform, has announced its acquisition of B2B data provider Clearbit. This strategic move is aimed at bolstering HubSpot’s platform with third-party company data from millions of businesses. As part of this deal, HubSpot gains access to Clearbit’s vast user base of over 400,000 users and 1,500+ business customers. In the future, the two platforms will merge to offer HubSpot’s customers expanded data and actionable insights.
Clearbit
founded in 2015, initially focused on helping users find email addresses and employee information associated with companies. This information was valuable for lead understanding and sales vetting. The startup secured initial funding from notable backers like SV Angel and First Round Capital. Over the years, Clearbit evolved into a comprehensive suite of tools tailored for sales, marketing, and operations teams. It also integrated with CRM providers like HubSpot and Salesforce, enriching leads, contacts, and accounts with additional data, including web-sourced and proprietary information. More recently, it leveraged Large Language Models (LLMs) to convert unstructured data into standardized datasets for B2B teams.
Clearbit’s co-founder and CEO, Matt Sornson
highlighted the significance of Large Language Models and Generative AI in revolutionizing the data industry. Thanks to this technology, Clearbit could now identify and enrich company or contact data from any country and language, making it an attractive acquisition target.
The company boasted strong relationships with businesses such as Twilio Segment, Asana, Intercom, Zenefits, Greenhouse, Chargebee, Lattice, and Frame.io, including a longstanding partnership with HubSpot through the HubSpot App Marketplace since 2019.
Following the completion of the deal, Clearbit will operate as a subsidiary of HubSpot and will eventually integrate into its customer platform.
HubSpot’s interest in Clearbit stems from the recognition that while gathering company data has become easier, challenges persist in effectively analyzing and utilizing this data. By combining Clearbit’s data with HubSpot’s platform, companies will be empowered to enhance their internal customer data with real-time external context. This strategic move is in line with the vision of Yamini Rangan, CEO of HubSpot, who sees the combination of HubSpot’s AI-powered customer platform and Clearbit’s data as a powerful solution for customers.
Clearbit had raised $17 million and was valued at $250 million in January 2019, with Series A investors including Bedrock, Battery, Cross Creek, and Zetta Venture Partners. Specific deal terms for the acquisition were not disclosed.
Matt Sornson, co-founder of Clearbit, emphasized the importance of data for B2B go-to-market teams, and joining forces with HubSpot is expected to unlock new value and growth opportunities for all B2B businesses.
