Cloud Sherpas has completed a 40 million Series B capital raise that will help the company execute its aggressive international growth plans for 2013 and beyond Existing Series A investors Columbia Capital and Delta-V Capital are joined in the new round by Greenspring Associates a global venture capital firm with over $2 2 billion in committed capital and Queensland Investment Corporation one of the largest institutional investment managers in Australia
Cloud Sherpas is one of the fastest-growing most successful cloud services brokerages CSB With over 3,000 customers the firm has more than doubled in size organically every year since inception and projects 2013 revenues north of 100 million It has built strong and deep partnerships with two of the world’s most prominent cloud providers Google and salesforce com Cloud Sherpas has over 350 employees in eight offices on three continents including a Global Delivery Center in the Philippines and has migrated more workers to the cloud than any other CSB
Cloud Sherpas has also made a name for itself as an industry consolidator Since , the firm has merged with or acquired eight cloud consultancies The latest round of financing will allow Cloud Sherpas to continue its organic growth investments and execute a number of transactions in its M&A pipeline including one which Cloud Sherpas completed today
Cloud Sherpas decision to raise additional capital at this time is in response to accelerating adoption of cloud technology by enterprises and the opportunity to lead the market transition as a CSB The new funds will allow Cloud Sherpas to better serve existing and prospective customers who are rapidly increasing their use of cloud services and are anxious to move off legacy on-premise systems The new capital will also be used by Cloud Sherpas to grow its presence in key geographic regions extend partnerships with Google and salesforce com and expand into emerging technology categories
Our approach is all about finding quality companies with significant upside and helping them reach their full potential said Ashton Newhall a co-founder at Greenspring Associates Given its first mover advantage unbelievable success to date and massive greenfield opportunity Cloud Sherpas fits our model perfectly We believe there is a dramatic under supply of companies focused on providing services to the segment of the market Further Cloud Sherpas management is uniquely qualified to take advantage of this tremendous opportunity ”
This fundraise advances our mission to help our clients generate maximum return on their investments in strategic cloud initiatives said Chris Arroyo CFO at Cloud Sherpas Investor response to our Series B was overwhelming and the round was over-subscribed further validating our market leadership and future potential The process has exceeded our expectations and we are absolutely bullish on the future of Cloud Sherpas ”
We’re entering the next phase in the evolution of enterprise cloud services said David Northington CEO at Cloud Sherpas Cloud is everywhere now and our clients want to know how they can leverage it to innovate gain market share stay more connected with customers and ultimately stay one step ahead of the competition Cloud applications are implemented with more flexibility and with less risk and allow for more focus on business and process innovation Cloud Sherpas is helping businesses around the globe aggregate multiple cloud services integrate them with in-house apps and customize them to meet their unique needs This new investment will allow us to help our clients realize all that is possible with the cloud ”
About Cloud Sherpas
Cloud Sherpas the Google Enterprise 2011 Partner of the Year and a Platinum salesforce com Partner is one of the world’s leading cloud services brokerages Since , the company has helped over 3,000 customers adopt manage and enhance cloud solutions from Google salesforce com and other leading cloud vendors Whether working with a global retailer to help them make their business more connected and collaborative with Google Apps or helping a financial services firm deploy Sales Cloud and Service Cloud to better manage their customer relationships Cloud Sherpas has the experience and expertise to help organizations leverage the cloud and respond with agility to the rapid consumerization of IT Cloud Sherpas has offices in Atlanta Brisbane Chicago Manila New York San Francisco San Diego Sydney Tokyo and Wellington For more information visit a href=”http://www cloudsherpas com target=”_blank”>www cloudsherpas com
