SAN FRANCISCO, January 25, 2022 – CloudApp, a visual work communication tool that helps teams share information faster through instantly shareable videos, gifs, and screenshots, announced an $9.3 million Series A fundraising round, led by Grayhawk Capital and Nordic Eye.
The round will also include previous investors Kickstart Fund, Cervin Ventures, New Ground Ventures, Bloomberg Beta, and new entrants Peninsula Ventures & Forward VC. The round features CloudApp customers Peter Kazanjy, CRO of Atrium, and Derek Andersen, CEO of Startup Grind and Bevy.
CloudApp, used by more than four million professionals, will use the capital to invest further in its workplace tools and business growth. The remote workplace has created its own pandemic: an exhausting wave of Zoom calls, Slack messages, and emails. At the same time, many organizations are understaffed, strapped for time and resources, and need better ways to communicate effectively and efficiently to maximize their employee’s valuable time and energy.
Instead of scheduling another call or writing another email, CloudApp’s screen recording software lets users create simple, shareable, interactive videos to communicate their message. Think of it as a visual voicemail that can be read at any time, without disrupting workflows.
“The future of the workplace came faster than any of us ever expected,” said Scott Smith, CEO of CloudApp. “It’s remote, it’s async, and businesses are seeing an explosion in demand for tools – 100x pre-pandemic levels – to help their teams collaborate and communicate wherever they are. With this new capital, we’re excited to invest more deeply into our customers, their needs, and to continue to make CloudApp the best solution: one that is deeply-integrated, secure, and fast.”
Since its founding in 2015, CloudApp has built a customer network of tens of thousands of businesses, with more than four million total users. CloudApps team has grown user retention by 51%, has 130% net revenue retention, an NPS over 50 in the workplace, and has driven usage to over 91% of the Fortune 1000.
Mandeep Arora, Partner at Nordic Eye Venture Capital, is excited about CloudApp’s potential in the digital workplace market, which is expected to grow to $72 billion by 2026.
“What attracted us to CloudApp was its relevance,” Arora said. “Text is now a mode of communication that feels like a thing of the past. Video is what we humans crave. With CloudApp, we are resurrecting easy, simple connections through video – so businesses can bridge communication gaps in hybrid work environments, and people can be people.”
Brian Smith, Managing Director at Grayhawk Capital, echoed Arora’s thoughts.
“At this point, Zoom fatigue is a very real thing, and email feels cold,” Smith said. “Businesses need high-value, meaningful communication. CloudApp is making remote and hybrid work a reality with asynchronous video messaging: giving a face to a name for team members and customers. It’s an app that once you have, you can’t live without.”
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Innovative companies use CloudApp to improve their operations across sales, customer support, and product development.
“According to a recent survey of 400+ sales managers, 74% expect to grow their teams in a distributed fashion over the next 12 months,” said Kazanjy, who uses CloudApp with Atrium, a data-driven sales management software company. “They are going to need tools like CloudApp to be effective in the remote workplace.”
Adobe, the digital experience software company, is also a customer and previous investor in CloudApp.
“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.”