US based Vector Capital has decided to invest $77 million growth investment in CloudSense, a leading Salesforce- native industry specific cloud company. The funding will be utilized to accelerate CloudSense’s global expansion program and will concentrate specially in the North American market. The investment will also be utilized for development of enterprise focused vertical solutions and product innovation in CloudSense.
CloudSense provides industry specific platform that launches faster, cheaper and seamless one to one omnichannel customer experiences. It provides integrated and digital first experiences. CloudSense platform also provides companies with powerful Commerce SaaS capabilities for sales team, mobile workforces, service agents, retail, telephone sales and customers buying online. CloudSense platform has also integrated into CRM, ERP and other systems and it also provides valuable services like Order Management, CPZ (Configure Price Quote), Pricing Management, Contract Lifecycle Management, e-Commerce and product catalog.
According to Richard Britton, CloudSense CEO and Co-Founder:
“We are delighted to announce our investment partnership with Vector and look forward to their support as we accelerate our innovation and growth globally.
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.”
Matthew Blodgett, Managing Director at Vector Capital, who will be joining the CloudSense Board of Directors, said the following about the investment:
“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.”
CloudSense were advised by CODE Advisors during investment negotiations.
Headquartered in London, CloudSense has around 300 employees in 8 offices across Europe, Asia- Pacific and the United States. Founded in 2009 CloudSense has increased its annual recurring revenue at an average annual growth rate in excess of 60% per year since 2014 with successful installations nearly 100 large global enterprises.
About Vector Capital
Vector capital has $3.5 billion of capital under management and is a global private equity firm specializing in transformational investments in established technology businesses. It identifies and pursues investments in both private and public markets.