The founder and CEO of HootSuite has been honoured by the Canadian Venture Capital & Private Equity Association (CVCA) with the 2015 Entrepreneur of the Year award. This is a prestigious award that is given to Canadian entrepreneurs who have demonstrated a great deal of success “in delivering superior returns to its stakeholders, along with business vision, tenacity, innovation, leadership and contribution to their community.”
Hootsuite is a social media management tool for businesses that started in Vancouver in 2008. The has over 11 million customers and has raised $249.9 Million in 6 rounds from 10 investors, including Fidelity Investments, Silicon Valley Bank, OMERS Ventures, Insight Venture Partners, and Accel Partners.
Aki Georgacacos, CVCA Awards Committee Chair, and Senior Managing Director, Avrio Capital, said, “Ryan’s tenacious approach to business and to life embody the very spirit of entrepreneurship. Ryan’s ability to ‘find a way’ in the face of obstacles and adversity should serve as an inspirational reminder to all Canadians that bold ideas can flourish right here.”
Holmes is an active participant in the startup world. Not only by being an investor, but also co-founding The Next Big Thing (TNBT), which is a non-profit program for young entrepreneurs that gives them a six-month work experience at HootSuite.
In a recent post on Medium, Holmes constructed five rules for startups on when, why and how much to raise money. He noted entrepreneurs need to Start lean, Raise based on context, Stay capital efficient, Take equity off the table in later rounds, and Have a rainy day fund.