Cloudstaff Raises US$20M Series B to Expand Cloud-based Workforce
Cloudstaff Modern Workforce, a leading global cloud-based workforce provider, announced the successful completion of its US$20 million Series B with investment from Philippines-focused private equity firm Navegar.
Navegar investment deal closes amidst the disruptions caused by the global coronavirus pandemic, while Cloudstaff continues to thrive using its remote working expertise to help businesses around the world shift to a cloud-based remote working model.
Despite the deal closing amidst the disruptions caused by the global coronavirus pandemic, Cloudstaff has continued to thrive using its remote working expertise to help businesses around the world shift to a cloud-based remote working model. Throughout the pandemic, Cloudstaff has kept its clients operational, and as the world adopts a new model where remote working is the norm and businesses start to chart their recovery strategies, Cloudstaff’s cloud-based workforce model is more relevant than ever. Since 2009, Cloudstaff has been building the technology, processes and procedures that prepared the company to meet the recent spike in demand for a remote workforce.
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Cloudstaff has developed a two-prong approach to cloud-based employment success – developing proprietary technology and investing in culture. By hosting thousands of remote workers, using advanced technology, Cloudstaff embraces each employee and supplies them with technology and resources necessary to support their success and the success of the client. Cloudstaff has made employee engagement and collaboration from distant locations possible where workflow is managed without interruption, regardless of physical location or time zone. The cloud workforce is capable of meeting client needs during all 24 hours of the day as each team member picks up the work of another when their time zone opens for business. This strong, worldwide team culture has dispelled the notion of professional loneliness that remote employees often experience.
Private equity firm Navegar had been searching for a company with the ability to manage remote employees and scale to meet the needs of businesses around the world. They found that business model in Cloudstaff. Led by CEO Lloyd Ernst, Cloudstaff is managed by a group of accomplished and recognized leaders, fluent in the language of the remote workforce. Navegar decided that Cloudstaff had the right combination of experience, and a proven record of remote workforce success, that was worthy of their investment.
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