Total amount raised
$186.9 Millions
Latest funding date
06/01/2022
Location
BetterCloud has successfully raised significant funding over multiple rounds, with notable investors such as Vista Equity Partners and Accel. The platform offers comprehensive SaaS management solutions, including user automation, spend optimization, and file governance.
Keep reading to explore the intricacies of BetterCloud's fundraising journey and the investors backing this innovative platform.
What Is BetterCloud?
BetterCloud, founded in November 2011 by David Politis, is headquartered in New York, New York. The company specializes in SaaS management, offering a platform that automates critical tasks such as user lifecycle management and data protection.
With a workforce of 101-250 employees, BetterCloud focuses on transforming employee experience, centralizing data protection, and maximizing operational efficiency. Their services include SaaS Management, SaaS Spend Management, Cloud File Security, Automated Workflows, Integrations, and Professional Services.
BetterCloud's platform is designed to help IT teams manage and optimize their SaaS applications, user permissions, and compliance. The company is recognized as a leader in SaaS management, providing tools for user automation, file governance, spend optimization, and compliance management.
How Much Funding Has BetterCloud Raised?
- Seed Round
- Amount Raised: $2.2M
- 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: $5.1M
- Date: January 2013
- Lead Investors: Flybridge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $6M
- Date: September 2013
- Lead Investors: Flybridge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance the platform's capabilities.
- Series C
- Amount Raised: $8.6M
- Date: June 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand market reach.
- Series D
- Amount Raised: $25M
- Date: March 2015
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and support a growing customer base.
- Series E
- Amount Raised: $60M
- Date: April 2018
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive innovation and expand the platform's integration capabilities.
- Corporate Round
- Amount Raised: $5M
- 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: $75M
- 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.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: June 2022
- Lead Investors: Vista Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support long-term growth and strategic initiatives.
Total Amount Raised: $186.9M
Current Valuation: Not publicly disclosed
Key Investors
- Vista Equity Partners
- Details: Vista Equity Partners is a leading global investment firm focused on enterprise software, data, and technology-enabled businesses. They have a strong track record of investing in companies that drive digital transformation.
- Investment Focus Areas: Enterprise software, data, technology-enabled businesses.
- Notable Investments: Marketo, Ping Identity, Datto.
- Accel
- Details: Accel is a venture capital firm that invests in early and growth-stage technology companies. They have been instrumental in the growth of several high-profile tech startups.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, Slack, Dropbox.
- Warburg Pincus
- Details: Warburg Pincus is a global private equity firm with a focus on growth investing. They have a diverse portfolio across various sectors, including technology.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: CrowdStrike, Avalara, Ant Financial.
- Dropbox
- Details: Dropbox is a file hosting service that offers cloud storage, file synchronization, and personal cloud services. They have expanded their services to include business solutions.
- Investment Focus Areas: Cloud storage, file synchronization, business solutions.
- Notable Investments: Not publicly disclosed.
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital arm of Bain Capital, focusing on early to growth-stage investments in technology companies. They have a strong presence in the tech investment landscape.
- Investment Focus Areas: Technology, software, fintech.
- Notable Investments: LinkedIn, DocuSign, SurveyMonkey.
What's Next for BetterCloud?
BetterCloud stands at the cusp of significant growth opportunities, driven by the increasing demand for SaaS management tools in a remote work environment. The company is poised to capitalize on the accelerated digital transformation, offering solutions that manage and secure a wide range of SaaS applications.
Future fundraising opportunities appear promising, given the strong backing from investors like Warburg Pincus and Accel. This financial support will likely fuel further innovation and expansion, positioning BetterCloud to meet the evolving needs of its growing customer base.
However, challenges such as scaling operations and staying ahead of competitors in a rapidly evolving market remain. Ensuring the security and reliability of their services will be crucial as they navigate these complexities.
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