- BetterCloud, a leading SaaSOps platform for managing and securing the digital workplace, announced it raised $75 million in funding led by Warburg Pincus
BetterCloud, a leading SaaSOps platform for managing and securing the digital workplace, announced it raised $75 million in a round of funding led by Warburg Pincus. This round of funding brings the total funding to $187 million.
Along with Warburg Pincus, existing investors Accel, Bain Capital Ventures, Flybridge Capital Partners, New Amsterdam Growth Capital, Greycroft, and e.ventures also joined the funding round.
Many companies are implementing a work-from-home policy and BetterCloud has seen significant growth in the use of their industry-leading SaaS management platform. This round of funding will be used to accelerate product innovation to meet this rise in demand and to ensure the company is supporting the rapidly evolving needs of its customers.
This funding round follows key initiatives launched by BetterCloud in 2020, including a strategic partnership and technology integration with OneLogin (a leader in identity and access management) and the launch of BetterCloud Content Scanning for Google Drive, Microsoft SharePoint and OneDrive, Box, Dropbox, and Slack.
Key Quotes:
“In the last decade, we’ve experienced major inflection points in the transition to SaaS, from the rise of cloud office suites like Salesforce, Google Apps, and O365, to what we today call the digital workplace with a best-in-breed application for virtually every function. But the forced move to remote work in the last two months has accelerated this shift — and there’s no turning back.”
“Every company has seen a dramatic change in how they work, prompting a rush to adopt SaaS applications to enable their workforces. Remote work, however, has created a greater need to manage and secure the cloud-based applications that power their businesses. Our customers need us more than ever and this fundraise will help us deliver on our promise to help them navigate this new way of working.”
– David Politis, CEO, BetterCloud
“We partner with category creators and market leaders — BetterCloud has both these attributes and much more. David and his team have developed an impressive SaaSOps category and movement from scratch, building a platform that helps tens of thousands of IT professionals enable their workforces through SaaS applications.”
– Brian Chang, Managing Director, Warburg Pincus.
“We look forward to partnering with BetterCloud as demand for their platform accelerates in this new era of more distributed work.”
– Samuel Lipsick, Principal at Warburg Pincus
