Total amount raised
$186.9 Million
Latest funding date
06/01/2022
Location
BetterCloud has successfully raised funding through 10 rounds, with notable investors including Flybridge. The company has also been acquired by Vista Equity Partners.
BetterCloud offers an end-to-end SaaS Management Platform designed to streamline operations, cut costs, and enhance security for IT teams. Keep reading to explore the intricacies of BetterCloud's fundraising journey and the investors backing this innovative platform.
What Is BetterCloud?
BetterCloud is a private company based in New York, New York, specializing in SaaS Operations. The company focuses on transforming employee experience, centralizing data protection, and maximizing operational efficiency. It operates in various sectors, including Apps, Business Process Automation (BPA), Cloud Security, Enterprise Software, IT Management, SaaS, and Software.
With an employee count between 101-250, BetterCloud has established itself as a leader in the SaaS management space. The company offers an end-to-end SaaS Management Platform designed to streamline operations, cut costs, and enhance security for IT teams. BetterCloud has been acquired by Vista Equity Partners.
How Much Funding Has BetterCloud Raised?
- Seed Round
- Amount Raised: USD 2,200,000
- Date: May 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial SaaS management platform.
- Series A
- Amount Raised: USD 5,050,000
- Date: January 2013
- Lead Investors: Flybridge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series B
- Amount Raised: USD 6,000,000
- Date: September 2013
- Lead Investors: Flybridge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Series C
- Amount Raised: USD 8,600,000
- Date: May 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and support growing customer demand.
- Series D
- Amount Raised: USD 25,000,000
- Date: March 2015
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and expand into new markets.
- Series E
- Amount Raised: USD 60,000,000
- Date: April 2018
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in product innovation.
- Corporate Round
- Amount Raised: USD 5,000,000
- Date: September 2019
- Lead Investors: Dropbox
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen strategic partnerships and enhance product offerings.
- Series F
- Amount Raised: USD 75,000,000
- Date: May 2020
- Lead Investors: Warburg Pincus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet the increased demand for SaaS management due to the shift to remote work.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: March 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: USD 186,850,000. Current Valuation: Not publicly disclosed.
Key Investors
- Warburg Pincus
- Details: Warburg Pincus is a global private equity firm known for its investments in enterprise technology software. The firm led BetterCloud's $75 million funding round in 2020.
- Investment Focus Areas: Enterprise technology software, category creators, market leaders.
- Notable Investments: BetterCloud.
- Bain Capital Ventures
- Details: Bain Capital Ventures is a venture capital firm that participated in multiple funding rounds for BetterCloud, including the $60 million Series E round in 2018.
- Investment Focus Areas: Not specifically detailed.
- Notable Investments: BetterCloud.
- Accel
- Details: Accel is a venture capital firm that has been an investor in BetterCloud since the Series D round in 2015. The firm focuses on early and growth-stage investments.
- Investment Focus Areas: Not specifically detailed.
- Notable Investments: BetterCloud.
- Flybridge
- Details: Flybridge is a venture capital firm that has invested in BetterCloud since the Series A round in 2013. The firm is known for supporting early-stage technology companies.
- Investment Focus Areas: Not specifically detailed.
- Notable Investments: BetterCloud.
- Dropbox
- Details: Dropbox is a file hosting service that participated in BetterCloud's $5 million corporate round in 2019. The company is known for its cloud storage and file synchronization services.
- Investment Focus Areas: Not applicable as Dropbox is not a traditional investor but a strategic partner.
- Notable Investments: Not applicable.
What's Next for BetterCloud?
BetterCloud stands at the cusp of significant growth opportunities, driven by the rising demand for SaaS management platforms as remote work becomes the norm. The company is poised to expand its customer base and innovate its platform to meet the evolving needs of businesses transitioning to cloud-based solutions.
With a strong track record of successful fundraising, BetterCloud is well-positioned to attract further investment. The recent $75 million raise underscores investor confidence, suggesting that future funding rounds could be on the horizon to support the company's ambitious growth plans.
However, BetterCloud will need to navigate challenges such as increasing competition and ensuring the scalability of its platform. Adapting to rapid technological changes and maintaining robust security measures will be crucial as the company continues to grow and evolve in the dynamic SaaS landscape.
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