Funding To Accelerate Rapid Growth, Expand Industry-Specific Innovation and Support North American Expansion
LONDON AND SAN FRANCISCO, November 3, 2017 – CloudSense, a leading Salesforce-native, industry-specific cloud company, today announced a $77 million growth investment from Vector Capital. The funding will be used to accelerate CloudSense’s rapid global expansion, especially in the North American markets, and to accelerate product innovation and development of enterprise focused vertical solutions.
CloudSense enables leading customer-centric enterprises worldwide to transform the way they sell, delivering capabilities to efficiently provide seamless one-to-one omnichannel customer experiences. Using CloudSense’s industry-specific platform, organizations can sell more, launch faster and reduce costs by producing the integrated, digital-first experiences today’s customers expect. Integrating into CRM, ERP and other systems, the CloudSense Platform provides companies with powerful Commerce SaaS capabilities for sales teams, mobile workforces, service agents, retail, resellers, telephone sales and customers buying online. Every person benefits from CloudSense’s extensive enterprise functionality in Order Management, CPQ (Configure Price Quote), Pricing Management, Contract Lifecycle Management, eCommerce, and Product Catalog.
Founded in 2009 and headquartered in London, CloudSense has rapidly expanded to nearly 300 employees, in 8 offices across Europe, Asia-Pacific and the U.S. Since 2014, CloudSense has increased its annual recurring revenue at an average annual growth rate in excess of 60% per year, with successful deployments across nearly 100 large global enterprises.
“We are delighted to announce our investment partnership with Vector and look forward to their support as we accelerate our innovation and growth globally,” said Richard Britton, CloudSense CEO and Co-Founder. “We built CloudSense from the ground up to enable established enterprises to place customer centricity at the heart of their digital transformations, by helping businesses sell and deliver how, when and where their customers want to buy. For too long, enterprises and their customers have been restricted by the technological limitations of establishment software vendors, and disappointed by the unkept promises and lack of commitment to customer success by the emerging vendors. CloudSense is uniquely focused on building a new, better solution, that combines our leading enterprise-grade cloud products with an unyielding commitment to customer success across our entire organization.”
“CloudSense is an exceptionally managed, rapidly growing and profitable founder-driven SaaS business, with a unique culture that places customer success and world-class products as its top priorities. Vector is proud to partner with and support this team in their continued global expansion,” said Matthew Blodgett, Managing Director at Vector Capital, who will be joining the CloudSense Board of Directors.
CODE Advisors advised CloudSense during investment negotiations.
CloudSense, the industry-specific commerce software company, enables leading organizations worldwide to sell more, launch faster and reduce expenditures by providing seamlessly connected, digital-first customer experiences, all on Salesforce.
Uniquely architected for enterprise-grade requirements since inception, the CloudSense platform is trusted across multiple industries to deliver commerce on every channel through Order Management, CPQ (Configure Price Quote), Pricing Management, Contract Lifecycle Management, eCommerce, and Product Catalog.
To learn more, please visit www.cloudsense.com.
About Vector Capital
Vector Capital is a leading global private equity firm specializing in transformational investments in established technology businesses. With $3.5 billion of capital under management, Vector identifies and pursues investments in both private and public markets. Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve competitive standing of businesses and enhance value for employees, customers and shareholders. For more information, please visit http://www.vectorcapital.com.