One of the great benefits of Lighter Capital’s RevenueLoan is that it’s capital when you need it. Cloudbilt, a developer of Salesforce apps, has leveraged this better than anybody. Cloudbilt has just closed its fourth round of funding with Lighter Capital, bringing the total amount of financing to $1m. We provided CEO John Stewart and his team with their first round of funding in December 2012. Since then, Cloudbilt has grown by leaps and bounds—more than doubling in size.
“Lighter Capital has been a great partner for Cloudbilt,” says Stewart. “They have been our only outside source of funding. Because of our close working relationship with BJ and the team, and how well they understand AppExchange businesses, the initial funding and follow-on rounds have allowed us to bring in the capital we need very efficiently. It’s great to be able to focus on running my business rather than spending precious time looking for funding.”
“It’s been exciting to watch Cloudbilt grow over the last 18 months and I deeply enjoy working with John and his team,” says BJ Lackland, Lighter Capital’s CEO. “They have built an amazing company and are growing tremendously. We’re honored to be able to be a part of that.”
Cloudbilt is one of a growing number of companies that have secured multiple rounds of financing from Lighter Capital. Because we spend the time to get to know our clients, it’s easy for us to provide ongoing capital as it’s needed. Cloudbilt was our first Salesforce ISV. We’re now accelerating our investments in AppExchange companies. We have closed one ISV financing a month over the past six months, bringing our total to ten ISV financings. Our portfolio of App Exchange businesses includes Envisiontel, SalesReach Software, FullCircle CRM, Cloud Lending and SteelBrick.
About Cloudbilt Cloudbilt’s apps help Salesforce customers enhance their sales processes and activity. Their MapAnything App focuses on geographic sales intelligence. You can find more information on Cloudbilt at cloudbilt.com and you can follow them on twitter at @SalesforceMaps.