CloudCraze Secures $20 Million in Funding to Meet Growing Demand for Cloud-Based B2B Commerce
CHICAGO (GLOBE NEWSWIRE) -- CloudCraze, an enterprise digital commerce solution built on the Salesforce platform, has secured $20 million in funding led by Insight Venture Partners. Salesforce Ventures joins Insight as an additional investor. The combined funds will supercharge product development, support continued growth in the United States and EMEA, and expand the company’s team of B2B commerce experts.
CloudCraze is a Platinum Salesforce ISV Partner. Built on the Salesforce platform and leveraging the agility of the cloud, CloudCraze allows businesses to harness the power of digital commerce to generate online revenue fast and easily scale for growth. It provides seamless omnichannel interactions and a holistic view across all customer touchpoints. CloudCraze is focused on solving the complex needs of B2B companies including several iconic brands, such as Coca-Cola, Avid, AB InBev, Barry-Callebaut, Ecolab, GE, Land O’ Lakes, Kellogg’s, and WABCO.
“CloudCraze has pushed the boundaries in the B2B commerce industry to deliver a fast, scalable and robust solution that is flexible enough to allow companies to stay ahead of market and customer demands,” said Chris Dalton, CEO of CloudCraze. “As a result, we’ve achieved triple-digit growth as a company in the last year. This funding marks a significant milestone for our company and the marketplace, further enabling growth for our company and B2B commerce on Salesforce.”
The B2B commerce market is expected to grow to more than $1.1 trillion by 2020 as global online sales continue to increase. CloudCraze will continue to facilitate this industry’s growth and elevate B2B organizations’ performance across the globe. As a Salesforce partner, CloudCraze plans to continue to rapidly increase its customer base, expand within existing accounts, and capitalize on B2B commerce market growth.
“Based on our experience investing in companies involved in the Salesforce ecosystem, we see B2B commerce as an important investment driver for us,” added Nikitas Koutoupes, managing director at Insight Venture Partners. “CloudCraze improves the B2B buying and service experience tremendously with its scalable and flexible solution. We expect this round of funding to help CloudCraze innovate and grow at a much faster pace and larger scale.”
In the past year, CloudCraze has been recognized for its growth and innovation by several notable institutions, including being featured as a Visionary in the March 2016 Gartner Magic Quadrant for Digital Commerce and recognized as one of eight firms in The Forrester Wave™: B2B Commerce Suites, Q2 2015.
Additionally, the company recently won the Salesforce Partner Innovation Award for its work with a leading sports apparel company and was named to Chicago Inno’s 50 on Fire list as one of the hottest B2B companies in Chicago. For more information on CloudCraze, visit www.cloudcraze.com.
CloudCraze delivers robust B2B commerce native on Salesforce that allows businesses to generate online revenue fast and easily scale for growth. CloudCraze delivers seamless interactions across commerce, sales, service and marketing for a 360-degree view of data that’s 100% connected to the customer. With its trusted Salesforce infrastructure and core capabilities, the powerful CloudCraze platform provides infinite flexibility to extend functionality, add products and channels, and conduct billions of dollars in transactions anywhere. CloudCraze powers eCommerce for Coca-Cola, Avid, AB InBev, Barry-Callebaut, Ecolab, GE, L’Oreal, Kellogg’s, WABCO and more.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth software, mobile and internet companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $13 billion and invested in more than 250 companies worldwide. Our mission is to find, fund and work successfully with visionary executives providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit https://www.insightpartners.com or follow us on Twitter: @insightpartners.
Salesforce Ventures—Salesforce’s corporate investment group—invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce has invested in more than 150 enterprise cloud startups since 2009. For more information, please visit www.salesforce.com/ventures. Salesforce, App Cloud, AppExchange and others are among the trademarks of salesforce.com, inc.