BetterCloud Gets $25M, Doubles Down on Cloud Office IT Management
The evolution of New York-based BetterCloud continues with its latest raise of $25 million.
Accel led the round, announced Thursday, with Greycroft Partners, Flybridge Capital Partners, Tribeca Venture Partners, Millennium Technology Value Partners, and New Amsterdam Growth Capital participating.
This brings BetterCloud’s total funding to $47 million since its founding in 2011, and it also shows some of the ways the startup has changed. The company offers automated management and data security for cloud-based enterprise applications from Google Apps and Microsoft Office 365.
More and more companies use e-mail, calendars, and document management via the cloud, says David Politis, CEO of BetterCloud, a trend he expects to affect the day-to-day operations at most workplaces. “This is the biggest shift in IT in decades,” he says.
He sees many IT departments changing from overseeing e-mail and other services on site to connecting software back into cloud services such as Google Drive, OneDrive, and SharePoint. “The job of an IT professional is changing,” Politis says.
A couple of years ago, BetterCloud planned to integrate its software more with Salesforce.com and Zendesk, but Politis says his company soon changed its strategy. “It’s still on our radar but we decided to double down on cloud office,” he says.
The latest funding round will go towards sales and marketing expansions as well as further development of the company’s software, Politis says. BetterCloud has about 100 people on staff, he says, with plans to double the team within the next 12 months.