Goldman Sachs VC Fund Series B Investment in Hubba Inc.
|Areas||Corporate Finance and Securities, Tax, Technology|
Goodmans represented Goldman Sachs Investment Partners, an early backer of Uber, Facebook and Pinterest, in its Series B investment in Toronto startup, Hubba Inc., the leading business network for retailers to connect with consumer brands.
Hubba CEO and co-founder Ben Zifkin said the Series B venture financing will enable the five-year old company to triple its 45-person employee count by the end of next year “and build out a massive global institution in Toronto.” The company previously raised $11-million (Cdn) in its first venture capital financing a year ago from Canadian backers including Real Ventures, Kensington Venture Fund, Brightspark Ventures.
Hubba’s platform brings together consumer products purveyors and the retailers they sell to. Product makers provide photos, videos and product information on the site, which is set up to be for merchants to use for flyers, training and other uses. Hubba says more than 40,000 companies use its platform, including consumer products giants AB InBev, Unilver and retail giant Walmart.