HubSpot, the Boston-based marketing software firm, has announced its acquisition of Clearbit, a B2B data provider. The move is part of HubSpot's strategy to bolster its CRM platform by incorporating third-party company data from millions of businesses.
Founded in 2015, Clearbit began as a tool for locating email addresses associated with companies and extracting employee information, including names, job titles, and social media profiles. This data aimed to enhance lead understanding and sales vetting.
Over the years, Clearbit expanded its offerings to encompass tools for sales, marketing, and operations teams. It integrated with CRM providers such as HubSpot and Salesforce and provided data enrichment services, including public web data and proprietary datasets.
Clearbit harnessed Large Language Models (LLMs) and Generative AI to transform unstructured data into standardized datasets for B2B teams. This enabled the identification and enrichment of company and contact data across multiple languages and regions.
Clearbit has been available to HubSpot customers via the HubSpot App Marketplace since 2019. The acquisition allows Clearbit to become a subsidiary of HubSpot and to integrate its services into HubSpot's customer platform.
HubSpot recognized the importance of enriching customer data with real-time external context. By combining Clearbit's data resources with its AI-powered platform, HubSpot aims to empower companies to enhance their internal customer data.
The acquisition signifies a strategic move for both companies, promising a more powerful and comprehensive solution for their customers. Clearbit has been valued at $250 million as of January 2019, highlighting its significance in the data industry.
The acquisition of Clearbit by HubSpot signifies a pivotal step in expanding the capabilities of the CRM platform. It reflects the growing importance of enriching customer data and leveraging data solutions to drive business growth and better customer experiences.
As HubSpot and Clearbit embark on this journey of integration, businesses can anticipate more comprehensive CRM solutions that provide actionable insights and improved customer interactions.