HubSpot User and Revenue Stats (2023)

HubSpot is a popular customer relationship management (CRM) platform with marketing, sales, and customer experience features.

Founded in 2006, the inbound marketing pioneer has grown its total user base to 113,925 paying customers in over 120 countries in Q1 2021.

The software developer generated $883.03 million in 2020 – a 7.62x increase since 2014.

From users to revenue, here’s a summary of what you’ll find on this page:

• Key HubSpot Stats
• How many businesses use HubSpot?
• What’s the average subscription revenue per HubSpot customer?
• HubSpot revenue
• HubSpot subscription revenue
• HubSpot professional services and other revenue
• HubSpot revenue breakdown by region
• HubSpot total operating expenses
• HubSpot research and development expenses
• HubSpot sales and marketing expenses
• HubSpot general and administrative expenses
• How many people work at HubSpot?

Key HubSpot Stats

• HubSpot has 113,925 customers located across 120+ countries.

  

• The CRM platform generated $883.03 million in revenue in 2020. And brought in $281.36 million in Q1 2021.
• HubSpot generated 61.8% ($173.87 million) of its revenue from customers based in the Americas region.
• Total operating expenses amounted to $766.89 million in 2020. And $241.66 million in Q1 2021.
• HubSpot currently has 4,225 employees.

How many businesses use HubSpot?

HubSpot’s customers include business organizations or individuals with paid CRM platform subscriptions. These are billed by HubSpot directly or via a Solutions Partner.

As of March 2021, HubSpot had 113,925 paying customers, an increase from 103,994 at the end of 2020. The company has added 40,442 new unique subscriptions over the past year alone.

Here’s a table with a number of HubSpot customers since 2012:

Source: HubSpot.

What’s the average subscription revenue per HubSpot customer?

HubSpot generated an average subscription revenue of $9,592 per customer in 2020. That’s down 3.4% from $9,920 in 2019.

We’ve charted HubSpot’s average subscription revenue per customer since 2012:

Source: HubSpot.

HubSpot revenue

HubSpot brought in $883.03 million in revenue in 2020. The company’s revenue grew by 30.85% over the past year.

The firm achieved a 5-year revenue compound annual growth rate (CAGR) of 37.15%.

Here’s a detailed overview of HubSpot’s total revenue since 2010:

Source: HubSpot.

HubSpot subscription revenue

HubSpot generated $853.02 million in subscription revenue in 2020, accounting for a 96.6% share of total revenue. Subscription revenue increased by 31.99% over the past year.

The CRM platform has grown its subscription revenue by 2.39x since 2017.

Here’s a comprehensive overview of HubSpot’s subscription revenue since 2010:

Source: HubSpot.

HubSpot professional services and other revenue

HubSpot’s professional services and other revenue streams include customer on-boarding and training services.

The company’s professional services and other revenue accounted for 3.4% ($30 million) of total revenue in 2020 – a 4.93% year-over-year increase.

Here’s a table showing HubSpot’s professional services and other revenue since 2010:

Source: HubSpot.

HubSpot revenue breakdown by region

HubSpot generated $568.36 million in revenue from customers in the Americas region in 2020, accounting for 61.8% of total revenue.

Revenue derived from American customers has increased by 24.48% over the past year.

The share of the revenue from customers in the Americas region has consistently declined from 84.98% since 2015.

This is a table featuring revenue derived from HubSpot customers based in the Americas region since 2015:

HubSpot customers based in Europe contributed $243.81 million to the company’s revenue in 2020. This makes Europe the second-largest market after the Americas region.

Revenue share from HubSpot customers in Europe grew from 12.91% in 2015 to reach 29.63% in the first quarter of 2021.

Here’s a detailed overview of HubSpot revenue from European markets since 2015:

HubSpot’s regional revenue from customers in the Asia Pacific region reached $70.85 million in 2020. This contributed 8.02% of HubSpot’s total annual revenue.

The company has increased its revenue by 42.15% in the Asia Pacific market between 2019 and 2020.

Here’s a table showing HubSpot’s revenue from customers in the Asia Pacific region since 2015:

Source: HubSpot.

HubSpot total operating expenses

HubSpot’s total operating expenses reached $766.89 million in 2020 – a 29.57% increase since 2019.

The CRM platform expenses totaled $241.66 million in Q1 2021 alone.

Below are HubSpot’s total operating expenses since 2010:

Source: HubSpot.

HubSpot research and development expenses

HubSpot research and development expenses amounted to $205.59 million – a 26.81% share of total operating expenses.

In Q1 2021 this figure stood at $68.4 million – a 28.3% share of total operating expenses.

HubSpot’s research and development expenses increased by 29.92% from 2019 to 2020.

Here’s a table showing HubSpot’s research and development expenses since 2010:

HubSpot sales and marketing expenses

HubSpot’s sales and marketing expenses accounted for 58.35% ($141.02 million) of total operating expenses in Q1 2021. This is the company’s largest area of expense and indicates an annual increase on 2020’s $452.08 million (58.95% share).

Sales and marketing expenses increased by 32.7%. However, its share size has been on a consistent year-over-year decline from 64.1% in 2016.

HubSpot’s sales and marketing expenses since 2010 are shown below:

Source: HubSpot.

HubSpot general and administrative expenses

General and administrative expenses amounted to $109.22 million in 2020 – a 14.24% share of total operating expenses. This figure stood at $32.25 million for Q1 2021.

HubSpot’s general and administrative expenses increased by 17.48% over the past year.

Here’s a table showing HubSpot’s general and administrative expenses since 2010:

How many people work at HubSpot?

HubSpot employs 4,225 people located in North and Latin America, Europe, and the Asia Pacific region.

In 2020, HubSpot hired 838 full-time employees.

HubSpot has increased its headcount by 3.65x since 2015.

Approximately two in three (66.58%) HubSpot employees are based in North and Latin America, accounting for 2,813 people. An additional 1,082 HubSpotters are located in Europe with the remaining 330 based in the Asia Pacific region.

Conclusion

That’s it for my 2023 roundup of HubSpot stats.

The software company is showing steady growth in customer base and total revenue. With nearly 114,000 customers, the CRM platform is among the most popular products of its kind available on the market.

Now I’m curious to hear from you:

Do you think HubSpot offers compelling value to its customers, or are there better alternative platforms? Do you believe their valuation is justified?

I’d love to read your opinions so don’t hesitate to let me know your thoughts below.