Lync Migration Featured Article
March 27, 2015
Wheelings & Dealings: BetterCloud Brings in $25 Million Funding Round to Expand Cloud Office Solutions
By Laura Stotler
TMCnet Contributing Editor
Cloud office platform provider BetterCloud has received a $25 million financing infusion to help drive its mission of assisting businesses as they migrate to the cloud. The company, which specializes in automated management, insights and intelligent data security solutions for cloud office platforms, will use the funding round to accelerate development and expand integration with cloud office applications.
BetterCloud serves more than 50,000 organizations and 32 million users in managing, securing and reporting on their Google (News - Alert) Apps and Microsoft Office 365 activities. The company recently entered the Microsoft Office 365 market with its BetterCloud for Office 365 solution and also announced Google Drive Compliance, a real-time, API-based data loss prevention solution for Google Apps.
"In just three years BetterCloud has evolved into a true enterprise-grade security and management suite, complete with powerful insights, automated workflows, and granular compliance policies that our customers use to run their entire cloud office environment," said David Politis (News - Alert), CEO of BetterCloud. "As the source of truth for IT organizations managing the cloud office, we are at the center of cloud IT. BetterCloud is an indispensable tool for managing the use of cloud office products.”
The new investment round follows an initial round, bringing BetterCloud’s total funding infusion to $47 million. The company has been steadily building out its operations and marketing since launching in 2001, and now manages more than 33 billion pieces of data across its customer base. BetterCloud also succeeded in growing its sales by 500 percent last year and more than doubled its employee base during that time.
"The transition from on-premise applications to the cloud represents the most significant trend in enterprise productivity - BetterCloud has become a catalyst for this transition by enabling IT departments to easily deploy and manage Google Apps and Office 365," said Arun Mathew of Accel, which led the new funding round. "The company has achieved tremendous distribution, support and technical scale, giving them a unique and deep understanding of customers' needs and direction of the market."
Edited by Dominick Sorrentino