While the company has grown with mergers and acquisitions strategy over the years, bonding strong relationships with Google and Salesforce, this acquisition of CloudTrigger in the same period as this investment will expand its wings into CRM implementation and customization across North America and beyond. The latest round of financing will allow Cloud Sherpas to see off these M&A transactions within its pipeline. By the sounds of it we shall be hearing soon on more acquisitions further into the new year. The new capital will also be used by Cloud Sherpas to grow its presence in key geographic regions, extend partnerships with Google and salesforce.com, and expand into emerging technology categories.
Existing Series A investors Columbia Capital and Delta-V Capital are joined in the new round by Greenspring Associates, a global venture capital firm with over $2.2 billion in committed capital, and Queensland Investment Corporation, one of the largest institutional investment managers in Australia.
“This fundraise advances our mission to help our clients generate maximum return on their investments in strategic cloud initiatives,” said Chris Arroyo, CFO at Cloud Sherpas. “Investor response to our Series B was overwhelming and the round was over-subscribed, further validating our market leadership and future potential. The process has exceeded our expectations and we are absolutely bullish on the future of Cloud Sherpas.”