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, Mac, and Windows 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.”
A high growth video solution in the collaborative tech space with a near 5 star business user rating from G2 Crowd, Trust 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, Slack, Adobe, Drift, Zapier, and others it is uniquely positioned as an indispensable video led enterprise solution.
Kickstart 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/.
Cervin 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/.