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BetterCloud

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BetterCloud
Company typePrivate
IndustryInternet, Technology
FounderDavid Politis
Headquarters
330 7th Avenue, 4th Floor, New York, New York 10001 3525 Piedmont Rd NE, Building 6, Suite 500, Atlanta, GA 30305
,
United States
Area served
Worldwide
Key people
David Politis - CEO and Founder
Websitewww.bettercloud.com

BetterCloud, an independent software vendor based in New York, NY and with engineering offices in Atlanta, GA, builds unified SaaS management software. A venture-backed startup, BetterCloud has raised $187 million in total funding, with the most recent round was led by Warburg Pincus with series F funding with $75 million raised to date.[1] A previous round of funding was done in April 2018 which was led by Bain Capital Ventures.[2] In December 2016, BetterCloud completed pivot from G Suite to general SaaS management.[3]

History

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BetterCloud, founded in November 2011 in New York City,[4] by founder and CEO David Politis and former CTO David Hardwick. Soon after, the company launched DomainWatch,[5] which was a security tool for Google Docs, Google Sites and Google Calendar.

In May 2012 shortly after its launch, BetterCloud raised $2.2 million in seed funding from undisclosed angel investors.[6] In January 2013, with its FlashPanel product reportedly serving 15,000 domains and 5.5 million end-users, the company raised a Series A round of $5 million in venture capital from Flybridge Capital Partners, Greycroft Partners and TriBeCa Venture Partners, bringing its total funding at the time to $7.2 million.[7]

On September 25, 2013, the company successfully raised a Series B round of $6 million led by Flybridge Capital Partners with participation from Greycroft Partners, BLH Venture Partners, TriBeCa Venture Partners, Bear Creek Capital, and Hallett Capital.[8] With a total funding of $13.2 million, the company has announced it is expanding its products to serve as the foundational layer for the cloud based software space, serving companies such as Zendesk and Salesforce.com.[9]

In February 2015, the company rebranded its early product, FlashPanel, to BetterCloud for Google Apps, and also announced the launch of an additional product, BetterCloud for Office 365 [Beta]. The launch of an insight, monitoring, and alerting product for Microsoft Office 365 rounded out the company's offerings of solutions for the two major cloud messaging and collaboration platforms. And in March 2015, BetterCloud raised an additional $25 million in funding,[10] led by Accel Partners and with participation from all existing investors. In April 2018, BetterCloud raised $60 million in a Series E funding led by Bain Capital Ventures bringing the company's total funding to $107 million. With this investment, the company doubled its valuation to $270 million.[2]

In December 2016, BetterCloud pivoted from G Suite to general SaaS management. As of September 2018, the company supported connections to 10 SaaS apps: G Suite, Atlassian, Box, Dropbox, Namely, Office 365, Okta, Salesforce, Slack, and Zendesk.[11][2][12]

BetterCloud closed a $60 million Series E funding round in April 2018, led by Bain Capital Ventures' Enrique Salem, former CEO of Symantec. This round doubled the company's valuation to $270 million. One month later, BetterCloud and Okta, an identity and access management provider, announced a partnership to connect their.[2][11][13]

In March 2019 BetterCloud opened its platform's operations dashboard to any SaaS.[14][15]

In September 2019, Dropbox announced a partnership with BetterCloud and an investment of $5 million.[16][17]

In the same month, the company also launched the Integration Center.[18]

Corporate affairs

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Leadership

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BetterCloud is managed by CEO Jesse Levin. Other key executives are:[19]

  • Sean Hill, Chief Financial Officer
  • David Bean, Chief Technical Officer
  • Alyxa Lease, Chief People Officer
  • David Politis, Former CEO & Executive Chairman

Customer and revenue

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As of 2018, the company reports a network of around 2,500 customers, 14,000 IT professionals, and operates in around 60 countries.[20][21]

Awards

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  • BetterCloud was ranked #11 on Crain's Best Places to Work in NYC 2018.[21][22]

References

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  1. ^ Miller, Ron (20 May 2020). "BetterCloud scores $75M Series F as SaaS management needs grow". Techcrunch. Retrieved 2020-05-20.
  2. ^ a b c d Konrad, Alex. "How Software Startup BetterCloud Survived A Long Rebuild To Raise $60M At Double Its Valuation". Forbes. Retrieved 2019-05-22.
  3. ^ Miller, Ron. "BetterCloud completes pivot from G Suite to general SaaS management". TechCrunch. Retrieved 2017-10-18.
  4. ^ "With 15K Businesses On Board, BetterCloud Lands $5M To Help Accelerate The Adoption Of Google Apps In The Enterprise". Tech Crunch. 11 January 2013. Retrieved 14 May 2013.
  5. ^ "Web app lets enterprise set security, sharing for Google Apps users". Networkworld.com. 2012-02-10. Archived from the original on 2013-11-03. Retrieved 2013-09-03.
  6. ^ "BetterCloud Nabs $2.2M From Angels To Bring Better Management & Security To Google Apps". TechCrunch. 2012-05-10. Retrieved 2013-09-03.
  7. ^ "With 15K Businesses On Board, BetterCloud Lands $5M To Help Accelerate The Adoption Of Google Apps In The Enterprise". TechCrunch. 2013-01-10. Retrieved 2013-09-03.
  8. ^ "Backed by $6M, BetterCloud Is Tuning Up Its Software for Salesforce.com". xconomy. 2013-09-25. Retrieved 2013-09-25.
  9. ^ "BetterCloud's investors bet $6M that Google Apps will become the foundational layer of the enterprise cloud". pandodaily. 2013-09-25. Retrieved 2013-09-25.
  10. ^ "BetterCloud Raises $25 Million From Accel To Create Universal Tools For Monitoring The Office Cloud". TechCrunch. 2015-03-26. Retrieved 2015-03-26.
  11. ^ a b Wolber, Andy (September 19, 2018). "How BetterCloud adapted to serve enterprise SaaS management needs". TechRepublic. Retrieved 2020-03-27.
  12. ^ Kepes, Ben. "BetterCloud Delivers A Health Check For Google Apps Users". Forbes. Retrieved 2020-03-27.
  13. ^ "BetterCloud raises $60M for product innovation and new hires". Built In NYC. Retrieved 2020-04-03.
  14. ^ "BetterCloud can now manage any SaaS application". TechCrunch. Retrieved 2020-04-03.
  15. ^ "BetterCloud adds Integration Center to help developers build and share integrations". TechCrunch. Retrieved 2020-04-03.
  16. ^ "BetterCloud Receives $5M Investment from Dropbox". FinSMEs. 2019-09-25. Retrieved 2020-04-04.
  17. ^ "Dropbox Ties up with BetterCloud, to Offer Better Functionality". MarTech Series. 2019-09-26. Retrieved 2020-04-04.
  18. ^ "BetterCloud expands reach with expanded Dropbox partnership, new Integration Center". ChannelBuzz.ca. 2019-09-27. Retrieved 2020-04-04.
  19. ^ "Leadership".
  20. ^ "Dropbox Ties up with BetterCloud, to Offer Better Functionality". MarTech Series. 2019-09-26. Retrieved 2020-03-26.
  21. ^ a b "A Look Back at BetterCloud's 2018 Highlights". BetterCloud Monitor. 2018-12-21. Retrieved 2020-03-26.
  22. ^ "Best Places to Work 2018: The top midsize companies". www.crainsnewyork.com. Retrieved 2020-04-06.
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