CloudApp Raises $4.3 Million in Seed Funding to Advance Video Led Collaboration for Enterprises
SAN FRANCISCO–(BUSINESS WIRE)–CloudApp,
a video led solution in the $16
Billion collaborative tech space that enables instant business
communication through shareable videos, GIFs, and screenshots, announced
today a seed investment of $4.3 million led by Kickstart Seed Fund. The
round will also include previous investor Cervin Ventures, Bloomberg
Beta, Kyle York, VP Strategy at Oracle, and new entrants SAP.iO,
Qualtrics CEO Ryan Smith, Traeger CEO Jeremy Andrus, the CEO (Karl Sun),
COO (Dave Grow), and Head of Sales (Dan Cook) from Lucid Software, and
the co-founders of Teem, (Dan Caffee and Shaun Ritchie), a WeWork
company. The financing will be used to invest in the fast growing
enterprise led product that already includes Chrome,
applications and to scale sales and marketing.
“We are thrilled to partner with CloudApp,” said Gavin Christensen,
Managing Director of Utah’s largest seed fund Kickstart. “With 3MM+
users and nearly 1,000 corporate customers, CloudApp allows businesses
to effortlessly use video and screen capture to improve both
productivity and customer experience leading to revenue growth. One of
their enterprise customers told us that if they discontinued their
subscription with CloudApp, ‘there would be a riot!’ We expect great
things in the near future.”
“We are excited to work with Kickstart, continue to work with Cervin and
have several new entrants to draw from,” said Scott Smith, CEO of
CloudApp. “The growth potential is limitless with both the financial and
intellectual capital we gain through these partnerships. This group has
been extremely supportive with our plans and impressed by our raving
enterprise and individual fan base.”
“I use CloudApp a dozen times a day to share with my coworkers, my
friends around the world, and my family,” said Khoi
Vihn, Principal Designer at Adobe. “CloudApp is an indispensable
tool because it’s easy and fast to share anything from my computer.”
Gavin Christensen, Managing Director of Kickstart fund, will join the board
of directors. Adobe
was also a previous investor of CloudApp.
A high growth video solution in the collaborative tech space with a near
5 star business user rating from G2
Radius, and Gartner
Peer Insights. Using its combination of screen recording, screen
grabbing, and GIF creation tools and with its integrations
with workflow tools Zendesk,
and others it is uniquely positioned as an indispensable video led
Seed Fund’s mission is to fuel the best companies in Utah by
providing smart capital, a connected community and expert guidance.
Since raising its first fund in 2008, Kickstart has invested in more
than 100 companies. Learn more at https://www.kickstartseedfund.com/.
Ventures is a seed and early stage venture firm, focusing solely on
opportunities in the B2B software space. They have pioneered a dual path
seed for high-growth companies that either choose a traditional VC or a
capital-efficient path. Learn more at https://www.cervinventures.com.
SAP.iO is SAP’s strategic business unit to accelerate innovation and
drive new business models for SAP. The SAP.iO Fund makes investments in
early-stage startups building innovative solutions that enable customers
to receive highly incremental value from SAP platforms and applications.
The SAP.iO Foundries are our global network of equity-free accelerator
programs in strategic startup hubs providing startups access to
mentorship, exposure to SAP technologies, and opportunities to meet and
collaborate with SAP customers. Learn more at https://SAP.iO/.