BetterCloud
{{Short description|American information technology company}}
{{Infobox company
| name = BetterCloud
| logo = Bc-final-dark (1).png
| type = Private
| industry = Internet, Technology
| founder = David Politis
| location_city = 330 7th Avenue, 4th Floor, New York, New York 10001
3525 Piedmont Rd NE, Building 6, Suite 500, Atlanta, GA 30305
| area_served = Worldwide
| key_people = Jesse Levin - CEO
David Politis - Founder and Executive Chairman
| services =
| revenue =
| operating_income =
| net_income =
| owner =
| num_employees =
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| footnotes =
| location_country = United States
| homepage = {{url|http://www.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.{{Cite web|url=https://techcrunch.com/2020/05/20/bettercloud-scores-75m-series-f-as-saas-management-needs-grow/|title=BetterCloud scores $75M Series F as SaaS management needs grow|last=Miller|first=Ron|website=Techcrunch|date=20 May 2020 |language=en|access-date=2020-05-20}} A previous round of funding was done in April 2018 which was led by Bain Capital Ventures.{{Cite web|url=https://www.forbes.com/sites/alexkonrad/2018/04/05/bettercloud-raises-60-million/|title=How Software Startup BetterCloud Survived A Long Rebuild To Raise $60M At Double Its Valuation|last=Konrad|first=Alex|website=Forbes|language=en|access-date=2019-05-22}} In December 2016, BetterCloud completed pivot from G Suite to general SaaS management.{{Cite news|url=https://techcrunch.com/2016/12/06/bettercloud-pivots-from-g-suite-to-general-saas-management/|title=BetterCloud completes pivot from G Suite to general SaaS management|last=Miller|first=Ron|work=TechCrunch|access-date=2017-10-18|language=en}}
History
BetterCloud, founded in November 2011 in New York City,{{cite web|url=https://techcrunch.com/2013/01/10/with-15k-businesses-on-board-bettercloud-lands-5m-to-help-accelerate-the-adoption-of-google-apps-in-the-enterprise/|title=With 15K Businesses On Board, BetterCloud Lands $5M To Help Accelerate The Adoption Of Google Apps In The Enterprise|date=11 January 2013 |publisher=Tech Crunch|accessdate=14 May 2013}} by founder and former CEO David Politis and former CTO David Hardwick. Soon after, the company launched DomainWatch,{{cite web |url=http://www.networkworld.com/news/2012/021012-bettercloud-255979.html |title=Web app lets enterprise set security, sharing for Google Apps users |publisher=Networkworld.com |date=2012-02-10 |accessdate=2013-09-03 |archive-url=https://web.archive.org/web/20131103092134/http://www.networkworld.com/news/2012/021012-bettercloud-255979.html |archive-date=2013-11-03 |url-status=dead }} 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.{{cite web|url=https://techcrunch.com/2012/05/10/bettercloud-seed-flashpanel/ |title=BetterCloud Nabs $2.2M From Angels To Bring Better Management & Security To Google Apps |publisher=TechCrunch |date=2012-05-10 |accessdate=2013-09-03}} 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.{{cite web|url=https://techcrunch.com/2013/01/10/with-15k-businesses-on-board-bettercloud-lands-5m-to-help-accelerate-the-adoption-of-google-apps-in-the-enterprise/ |title=With 15K Businesses On Board, BetterCloud Lands $5M To Help Accelerate The Adoption Of Google Apps In The Enterprise |publisher=TechCrunch |date=2013-01-10 |accessdate=2013-09-03}}
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.{{cite web|url=http://www.xconomy.com/new-york/2013/09/25/backed-6m-bettercloud-tuning-software-salesforce-com|title=Backed by $6M, BetterCloud Is Tuning Up Its Software for Salesforce.com |publisher=xconomy |date=2013-09-25 |accessdate=2013-09-25}} 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.{{cite web|url=http://pandodaily.com/2013/09/25/betterclouds-investors-bet-6m-that-google-apps-will-become-the-foundational-layer-of-the-enterprise-cloud|title=BetterCloud's investors bet $6M that Google Apps will become the foundational layer of the enterprise cloud|publisher=pandodaily|date=2013-09-25 |accessdate=2013-09-25}}
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,{{cite web|url=https://techcrunch.com/2015/03/26/bettercloud-funding/|title=BetterCloud Raises $25 Million From Accel To Create Universal Tools For Monitoring The Office Cloud |publisher=TechCrunch |date=2015-03-26 |accessdate=2015-03-26}} 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.
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.{{Cite web|url=https://www.techrepublic.com/article/how-bettercloud-adapted-to-serve-enterprise-saas-management-needs/|title=How BetterCloud adapted to serve enterprise SaaS management needs|date=September 19, 2018|first=Andy|last=Wolber|website=TechRepublic|language=en|access-date=2020-03-27}}{{Cite web|url=https://www.forbes.com/sites/benkepes/2014/08/13/bettercloud-delivers-a-health-check-for-google-apps-users/|title=BetterCloud Delivers A Health Check For Google Apps Users|last=Kepes|first=Ben|website=Forbes|language=en|access-date=2020-03-27}}
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.{{Cite web|url=https://www.builtinnyc.com/2018/04/06/bettercloud-60-million-series-e-funding|title=BetterCloud raises $60M for product innovation and new hires|website=Built In NYC|language=en|access-date=2020-04-03}}
In March 2019 BetterCloud opened its platform's operations dashboard to any SaaS.{{Cite web|url=https://techcrunch.com/2019/02/05/bettercloud-can-now-manage-any-saas-application/|title=BetterCloud can now manage any SaaS application|website=TechCrunch|date=5 February 2019 |language=en-US|access-date=2020-04-03}}{{Cite web|url=https://techcrunch.com/2019/09/25/bettercloud-adds-integration-center-to-help-developers-build-and-share-integrations/|title=BetterCloud adds Integration Center to help developers build and share integrations|website=TechCrunch|date=25 September 2019 |language=en-US|access-date=2020-04-03}}
In September 2019, Dropbox announced a partnership with BetterCloud and an investment of $5 million.{{Cite web|url=https://www.finsmes.com/2019/09/bettercloud-receives-5m-investment-from-dropbox.html|title=BetterCloud Receives $5M Investment from Dropbox|date=2019-09-25|website=FinSMEs|language=en-US|access-date=2020-04-04}}{{Cite web|url=https://martechseries.com/mts-insights/staff-writers/dropbox-ties-bettercloud-offer-better-functionality/|title=Dropbox Ties up with BetterCloud, to Offer Better Functionality|date=2019-09-26|website=MarTech Series|language=en-US|access-date=2020-04-04}} In the same month, the company also launched the Integration Center.{{Cite web|url=https://channelbuzz.ca/2019/09/bettercloud-expands-reach-with-expanded-dropbox-partnership-new-integration-center-31993/|title=BetterCloud expands reach with expanded Dropbox partnership, new Integration Center|date=2019-09-27|website=ChannelBuzz.ca|language=en-CA|access-date=2020-04-04}}
In May 2023, Jesse Levin was named CEO, replacing founder David Politis who became Executive Chairman.{{Cite web|date=May 4, 2023|access-date=February 25, 2025|title=BetterCloud Appoints Jesse Levin as CEO |url=https://www.citybiz.co/article/412596/bettercloud-appoints-jesse-levin-as-ceo/ |website=City Biz}}
In June 2022, Vista Equity Partners bought a majority stake in the company for an undisclosed amount.{{Cite web|last=Deutscher|first=Maria|date=June 9, 2022|access-date=March 4, 2025|title=Vista Equity Partners buys majority stake in cloud service management startup BetterCloud |url=https://siliconangle.com/2022/06/09/vista-equity-partners-buys-majority-stake-cloud-service-management-startup-bettercloud/ |website=Silicon Angle}}
Corporate affairs
= Leadership =
BetterCloud is managed by CEO Jesse Levin. Other key executives are:{{Cite web|url=https://www.bettercloud.com/leadership/ |title=Leadership }}
- Sean Hill, Chief Financial Officer
- David Bean, Chief Technical Officer
- Alyxa Lease, Chief People Officer
- David Politis, Former CEO & Executive Chairman
= Customer and revenue =
As of 2018, the company reports a network of around 2,500 customers, 14,000 IT professionals, and operates in around 60 countries.{{Cite web|url=https://martechseries.com/mts-insights/staff-writers/dropbox-ties-bettercloud-offer-better-functionality/|title=Dropbox Ties up with BetterCloud, to Offer Better Functionality|date=2019-09-26|website=MarTech Series|language=en-US|access-date=2020-03-26}}{{Cite web|url=https://www.bettercloud.com/monitor/a-look-back-at-betterclouds-2018-highlights/|title=A Look Back at BetterCloud's 2018 Highlights|date=2018-12-21|website=BetterCloud Monitor|language=en-US|access-date=2020-03-26}}
Awards
References
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