We are thrilled that Lighter Capital client Cloudbilt has been recognized by Inc. magazine as one of the 500 fastest growing private companies in America. The company, a provider of SaaS solutions on the Salesforce AppExchange, was ranked as number 227 in the Inc. 500 list, and number 15 in the software category. Cloudbilt’s revenue growth in this period was remarkable: 1,995%! Congratulations!
When we first talked with Cloudbilt in 2012, they had exactly what we look for in the companies we fund: fast growth, sticky revenues, high margins, and a hard-working team of entrepreneurs.
“I had looked into many financing sources, but never found one I liked,” says Cloudbilt CEO John Stewart. “Except for our own capital, Lighter Capital has been our only source of funding. They’ve helped us take the company to the next level—our customers now include multiple companies in the Fortune 500. We were on a fast-growth trajectory before we obtained financing, but Lighter Capital’s revenue-based financing has dramatically accelerated our growth by allowing us to invest in product development, marketing events and expanding our sales team.”
Cloudbilt is one of a growing number of companies that have secured multiple rounds of financing from Lighter Capital. Between 2012 and June of this year, we’ve provided the company with four rounds of funding for a total of $1 million dollars.
“Because of our close working relationship with the investment team, and how well they understand the Salesforce AppExchange, the initial funding and follow-on rounds have allowed us to bring in the capital we need very efficiently,” says Stewart. “It’s great to be able to focus on growing my business rather than on looking for funding.”
Cloudbilt’s partnership with our firm isn’t over. As we often do, Lighter Capital is helping make introductions to venture capital firms, who are taking an interest in the company.
Founded in 2009, Cloudbilt is a Salesforce AppExchange Program Partner providing three business applications. MapAnything (part of the Salesforce1 Ready Collection) provides mapping, real time geo-location, territory management, and analytics. ezCloudAudit provides a clear view of Salesforce user behavior while monitoring the management of sensitive data. ezFileLoader delivers document security and enables users to drag and drop files into Salesforce records and email them out. Learn more about the firm at Cloudbilt.com.