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BetterCloud Raises $5 M Series A From Flybridge Capital Partners, Greycroft Partners, TriBeCa Venture Partners to Bring Cloud Management and Security Tools to Every Google Apps Domain
Funding Will Help to Broaden the Adoption of BetterCloud's Cloud Management Tool, Already Used by More Than 15,000 Companies Globally
By: Marketwired .
Jan. 11, 2013 07:30 AM
NEW YORK, NY -- (Marketwire) -- 01/11/13 -- BetterCloud today announced a $5 million Series A round of financing led by David Aronoff of Flybridge Capital Partners, an early-stage firm that focuses on enterprise and consumer infrastructure investing with offices in New York City and Boston. Also participating in the round are New York based Greycroft Partners and TriBeCa Venture Partners with continued support from existing investors Bear Creek Capital and BLH Venture Partners. The Series A raise brings BetterCloud's total funding to $7.2 million.
BetterCloud is the leading provider of cloud management tools for Google Apps and since launching in the Google Apps Marketplace six months ago has seen unprecedented adoption of its flagship management and security application, FlashPanel. The platform empowers Google Apps administrators by providing added controls, visibility, automation and more, ultimately accelerating the adoption of Google Apps. The company has already acquired more than 15,000 customers with 5.5 million end-users worldwide, making FlashPanel the fastest growing tool for Google Apps of all time. Funding will be used to expand sales, marketing and product development efforts to support and fuel FlashPanel adoption.
"BetterCloud is accelerating the adoption of cloud platforms like Google Apps and we're thrilled to play a part," said Mr. Aronoff, who will be joining BetterCloud's board of directors. "It's rare you see a company make so much progress in its first year and based on the continued growth of Google Apps, we see a long term need for the tools BetterCloud provides."
"We're excited and fortunate to have investors on board that really understand the Google Apps ecosystem and believe in our long term vision of becoming the Norton Utilities for Google Apps," said David Politis, Founder and CEO of BetterCloud. "2012 was a great first year and this year we're looking forward to building on FlashPanel's foundation by expanding its powerful feature set to service more of the Google Enterprise Cloud."
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