The social media management platform is also looking to launch an initial public offering in the next few months, according to a source.

Hootsuite, a Canada-based social media relationship platform, has raised $35m in a new financing round led by Fidelity Investments, according to the Wall Street Journal, which cited people familiar with the matter.

Hootsuite, which is also backed by investors including media company Hearst, reportedly raised the money at an $800m valuation. A source told the WSJ that the company plans to go public in the next few months.

Founded in 2009, Hootsuite produces software that enables companies to manage their…