HubSpot buying B2B data source ClearBit

HubSpot announced today that it is buying B2B data provider ClearBit, bolstering the Boston-based CRM platform with third-party company data from millions of businesses.

In addition to that HubSpot will be getting the other company’s 400,0000+ users and more than 1,500 business customers. Terms of the deal have not been announced yet. ClearBit was valued at $250 million as of January 2019, according to data from Pitchbook 

“By joining forces with HubSpot, the industry’s most loved B2B customer platform, we will unlock a whole new level of value for our customers and help all of B2B grow better,” Matt Sornson, co-founder and CEO of Clearbit, said in a statement. 

Dig deeper: How to use HubSpot’s AI tools in your sales and marketing

“This acquisition not only increases the value of HubSpot, but we believe this creates a competitive moat that’s going to be hard to beat for companies looking to get the most from their tech stack,” said Ali Schwanke, founder of Simple Strat, a platinum HubSpot Solutions partner (and a MarTech contributor). “We’re excited for the opportunity to leverage this data along with AI to drive personalization and quickly identify new prospects based on an existing database,” she added.

Jen Bergren, head of HubSpot agency Remotish and another MarTech contributor pointed out that the “acquisition makes sense with the new and expanding prospecting workspace that is accommodating outbound inside of HubSpot.” She also referred to HubSpot’s propensity for building within its own platform rather than stitching acquired platforms together. “[This suits] HubSpot’s crafted not cobbled approach as they will rebuild Clearbit functionality inside of HubSpot like they did for PieSync.”

Clearbit has been available to HubSpot customers via the HubSpot App Marketplace since 2019. When the sale is finalized, Clearbit will be a wholly owned subsidiary of HubSpot and eventually integrated into HubSpot’s customer platform.

 “HubSpot’s AI-powered customer platform combined with Clearbit’s data will create a powerful, winning combination for our customers,” Yamini Rangan, CEO of HubSpot, said in a statement.

Why we care. On the one hand, integrating ClearBit’s business data into HubSpot will likely be a significant benefit for users. On the other hand, ClearBit’s absence as an independent data source may decrease competition in that space, driving up prices.