Shares of Cambridge-based software company HubSpot shot up on their first day of trading yesterday, marking the third successful initial public offering for a Boston tech company in the past three weeks.
HubSpot shares closed up 20 percent, valuing the company at nearly $914 million. HubSpot raised $125 million.
"We don't really see it as the finish line, we see it as a start line," said Dharmesh Shah, HubSpot co-founder and chief technology officer. "We're thinking ahead now to continue to grow our business."
HubSpot, which makes software for marketers and salespeople, has been one of the fastest growing companies in the area.
It's the second largest Boston tech IPO in the past week after online home goods retailer Wayfair, which went public Oct. 2 and raised more than $300 million.
Neeraj Agrawal, a partner at venture capital firm Battery Ventures in Boston, said the HubSpot IPO and recent successful public offerings from Wayfair and other companies will have a ripple effect for the Boston tech community.
"Two, three years from now you should see a wave of startups created by some folks who might cash out over time," Agrawal said. "There's a virtual cycle between successful companies, IPOs and new startups."
Chief operating officer J.D. Sherman said HubSpot wants to become a major global tech company.
"Our goal is to not only be an IPO, but be a real tech business, make a dent in the tech business and do it from Boston," he said.
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