I’m thrilled to announce that BetterCloud has closed a new $75 million financing round led by Warburg Pincus. Participating alongside Warburg Pincus are existing investors Accel, Bain Capital Ventures, Flybridge Capital Partners, New Amsterdam Growth Capital, Greycroft, and e.ventures.
This is another important moment in our journey, and I’d like to share what it means for our customers, community, partners, and team.
BetterCloud pioneered SaaSOps, and it’s more relevant than ever
At the heart of it, SaaSOps is about how to enable your organization to use SaaS successfully. It’s all the new processes, skills, and tools IT needs. And with this recent accelerated shift to remote work, it’s more relevant than ever. I’ve found that the topic of SaaSOps, and the capabilities we offer, are now top of mind for many IT leaders.
BetterCloud is the stitching that makes SaaS adoption successful. In a time when IT is tasked to do more with less, we make that easy. Our customers are seeing BetterCloud’s value build and compound, especially as they automate more things like offboarding, file security, and least privileged access.
In fact, in the two months since COVID-19 started, we’ve seen a massive uptick in the use of our platform.
It’s obvious that BetterCloud is the clear leader, and the tailwinds are picking up.
This funding helps fuel continuous product advancements & innovation
This funding round will help us continue to achieve the vision of being the leader in SaaSOps, enabling companies to discover, manage, and secure their cloud applications in a best-of-breed world.
We’ll be able to accelerate our product development and expand the number of supported SaaSOps use cases. In fact, in the past two months alone, we’ve launched new Workflow Templates, a partnership and integration with OneLogin, and Content Scanning for Google Drive, Microsoft SharePoint and OneDrive, Box, Dropbox, and Slack.
And later this year, you’ll see our biggest release yet—a game-changer that’s been months in the making.
We’ll continue delivering an outstanding experience for our customers, who need us more than ever. Our company culture, which we’ve been building over the past nine years, is a powerful differentiator. In addition, we’ll keep championing the SaaSOps community and movement in order to elevate IT and transform their role.
We’re fortunate to have a group of investors who see the massive opportunity
We appreciate that in the midst of heightened uncertainty, Warburg Pincus sees the same massive opportunity we do.
They, as well as our existing investors, believe in our business, the market, our community, and our product. They share our strong conviction that SaaSOps is the future of IT, and they’re supporting us to go after our vision.
We’re still in the early innings, of course. There’s a decades-long shift ahead of us. But those who did decide to invest in this round see that BetterCloud has already helped tens of thousands of IT pros enable their workforces through SaaS. Our platform is becoming critical for IT in this new era of remote work, and this funding further validates the SaaSOps category we created.
We’re ready to go heads down and continue to execute
SaaSOps is quickly becoming a staple of every modern IT stack. It’s a mindset, a playbook, that every modern IT professional is embracing. This is just the beginning of a massive movement, and BetterCloud is leading the way.
For everyone who has supported us—in the past, present, and future—we’ll continue to execute and deliver on our promise to you. Guided by our company values, we’re humble but also hungry to dominate SaaSOps, and we’re prepared to go heads down to make it happen. We have an exciting challenge ahead of us, and we’ve never been more ready.
For more information, check out our press release, as well as additional coverage here:
- TechCrunch | BetterCloud scores $75M Series F as SaaS management needs grow
- Business Insider | The CEO of BetterCloud used this pitch deck to raise $75 million from investors including Warburg Pincus to help businesses manage their cloud applications
- SiliconANGLE | Software-as-a-service monitoring firm BetterCloud raises $75M
- New York Business Journal | BetterCloud, a New York City-based software vendor, raises $75 million
- Computer Business Review | BetterCloud Raises $75 Million, Amid Deep Recession
- Axios Pro Rata | Wednesday, 5/20
- Hypepotamus | BetterCloud Raises $75 Million As More Companies Seek Beefed Up SaaSOps Services For Remote Operations
- Finsmes | BetterCloud Raises $75M in Funding
- Venture Capital Journal | BetterCloud Attracts $75M
- AlleyWatch | The AlleyWatch Startup Daily Funding Report: 5/20/2020