New financing round underscores impact of SaaSOps platform in new era of remote work
BetterCloud, the leading SaaSOps platform for managing and securing the digital workplace, announced it has closed a $75 million financing round led by Warburg Pincus, a leading global private equity firm focused on growth investing. The funding brings the company’s total amount raised to $187 million. Participating alongside Warburg Pincus are existing investors Accel, Bain Capital Ventures, Flybridge Capital Partners, New Amsterdam Growth Capital, Greycroft and e.ventures.
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“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,” said David Politis, CEO, BetterCloud. “But the forced move to remote work in the last two months has accelerated this shift — and there’s no turning back.”
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With many companies implementing a work-from-home policy, BetterCloud has seen significant growth in the use of their industry leading SaaS management platform. The new capital 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.
Politis continues, “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.”
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