Former Compete CTO Sells Web Analytics Venture

Web analytics firm Performable, founded by former Compete CTO David Cancel, has been sold to marketing software platform provider HubSpot for an undisclosed amount.

The announcement comes just three months after HubSpot received $32m in Series D funding from Sequoia Capital, Google Ventures and Salesforce.com.

Performable offers a web-based platform that provides companies with a unified view of customers across e-mail, web, social media, mobile channels and third-party apps. Cancel says the firm's tools track and use real user behavior over the course of time, not just anonymous page views.

Prior to setting up Performable, Cancel was the co-founder and CTO of social media ad specialist Lookery; before this, he was a co-founder and the CTO at online behaviour measurement company Compete, which was acquired by TNS in 2008 and is now part of WPP.

As part of the deal, Cancel will become Hubspot's Chief Product Officer, while Performable's 18-person team will also join HubSpot at its HQ in Cambridge, Massachusetts.

'I've known David since before he founded Compete.com,' said Dharmesh Shah, HubSpot's co-founder and CTO. 'He is not only a brilliant product person but also has a reputation for recruiting exceptional talent, and you can see that in the Performable team.'

Cancel outlined his vision to help build HubSpot into a multi-billion dollar company, adding: 'I know that including Performable's team and technology in the mix will help us get there even faster.'

Web sites: www.performable.com and www.hubspot.com .