Growth equity firm Eastside Partners has led an $18m funding round for Israel-based cloud services provider AllCloud, investing with enterprise software provider Salesforce’s corporate venturing subsidiary, Salesforce Ventures, and unnamed existing backers.
AllCloud offers cloud management and digital transformation tools and consulting services to enterprise customers. It is a Salesforce Platinum Partner and a Premier Consulting Partner for cloud services provider Amazon Web Services (AWS).
The capital will be used to expand the company’s range of services, and to support strategic acquisitions. It has now raised $26m in funding since being founded in 2014.
The round comes after AllCloud received $7m from Discount Capital, Hallett Capital and undisclosed existing investors, in a July 2018 round it said increased its overall funding to $15m.
AllCloud had reportedly received $6m in 2015 from the Jesselson Family, who returned to join the Weil family, angel investor Eran Gil and unnamed New York-based investors to provide $3m for the company in December 2017 at a reported $40m valuation.
Eran Gil, AllCloud’s chief executive, said: “As the AWS and Salesforce ecosystems continuously innovate and grow, clients are looking for partners that can build a long-term strategy that truly transforms their organisation, while balancing the need for speed and agility.
“AllCloud is now in a position to expand upon our wide breadth and depth of AWS and Salesforce expertise by acquiring ecosystem specialisation, which further rounds out our offerings.”
