HubSpot has set its sights on expanding its presence in Canada, opening its first office in the country in Toronto.
The Cambridge, Massachusetts-based customer relationship management (CRM) platform company first announced its intent to expand to Ontario last fall, outlining plans to hire over 50 people in the province and establish a footprint in Toronto.
HubSpot joins a growing list of international tech companies that have set up shop in Toronto.
Ryan Beale, HubSpot’s VP of mid-market sales, said the firm’s expansion into Canada will help support its local customers, partners, and growth in the country. HubSpot is also looking to tap into Canada’s tech talent pool.
Beale has been tasked with leading HubSpot’s Canadian market expansion efforts, with support from newly hired Saher Ghattas as director of sales. Ghattas, who has two decades of experience working in Canada’s tech market, most recently led sales for one of HubSpot’s Diamond partners, serving as CRO of Edmonton-based Flawless Inbound.
For HubSpot, which trades on the New York Stock Exchange under the symbol ‘HUBS,’ the company’s Toronto office is its 13th office globally. The company’s move into Toronto comes after HubSpot saw its international revenue grow to account for 46 percent of its total revenue in Q2 2021—highlighting the importance of international markets for HubSpot, which also recently announced United Kingdom expansion plans.
With the move, HubSpot joins a growing list of international tech companies that have set up shop in Toronto, including New York proptech startup Alfred, Swedish payments firm Klarna, and Silicon Valley-based Productboard — in addition to the big tech names that already call Toronto home — putting pressure on domestic firms for hiring tech talent.
Canada’s tech talent market has seen tremendous growth over the past five years, and has low average tech salaries relative to the United States. Amid increasing competition for talent between domestic firms and international players, wages at some of Canada’s fastest-growing tech companies have reportedly increased 20 percent over the past year.