Total amount raised
$248.4 Millions
Latest funding date
Location
Cloudbeds has successfully raised significant funding through multiple rounds, with the latest being a Series D. The company is backed by a diverse group of 17 investors, including Echo Street Capital and Walleye Capital.
Keep reading to explore the intricacies of Cloudbeds' fundraising journey and the investors supporting this innovative hospitality management platform.
What Is Cloudbeds?
Cloudbeds, founded in 2012 by Adam Harris, Phillip Kopp, and Richard Castle, is headquartered in San Diego, California. The company offers a cloud-based hospitality management platform designed to help hotels grow revenue, streamline operations, and deliver memorable guest experiences.
With a team of 501-1000 employees, Cloudbeds provides a comprehensive suite of tools including a Property Management System, Channel Manager, Booking Engine, and Pricing Intelligence. These tools are aimed at enhancing operational efficiency and boosting direct bookings for various types of lodging businesses.
Cloudbeds' platform integrates with over 300 partners and offers an open API for custom integrations, making it a versatile solution for the hospitality industry. The company also offers digital marketing services and website creation to further support its clients' growth and success.
How Much Funding Has Cloudbeds Raised?
- Seed Round
- Amount Raised: $800K
- Date: January 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their cloud-based hospitality management platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and refine their platform.
- Seed Round
- Amount Raised: $3.5M
- Date: March 2015
- Lead Investors: Tech Coast Angels
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and enhance product features.
- Series A
- Amount Raised: $3.1M
- Date: July 2016
- Lead Investors: Cultivation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase customer acquisition.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: March 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for growth.
- Series B
- Amount Raised: $9M
- Date: June 2017
- Lead Investors: PeakSpan Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand market presence.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing product development and market expansion.
- Series C
- Amount Raised: $82M
- Date: March 2020
- Lead Investors: Viking Global Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance product offerings.
- Series D
- Amount Raised: $150M
- Date: November 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth, expand the team, and invest in advanced technology.
Total Amount Raised: $248.4M. Current Valuation: Not publicly disclosed.
Key Investors
- SoftBank Vision Fund 2
- Details: Managed by SoftBank Investment Advisers, SoftBank Vision Fund 2 is one of the largest venture capital funds globally, focusing on technology-driven companies. It has a significant influence in the tech investment landscape.
- Investment Focus Areas: Technology, Artificial Intelligence, Robotics.
- Notable Investments: Uber, WeWork, DoorDash.
- Viking Global Investors
- Details: Viking Global Investors is a global investment firm managing capital for institutions and high-net-worth individuals. Founded in 1999, it has a diversified investment portfolio.
- Investment Focus Areas: Technology, Healthcare, Consumer Goods.
- Notable Investments: Facebook, Alibaba, Netflix.
- PeakSpan Capital
- Details: PeakSpan Capital is a growth equity firm that focuses on business software companies. It aims to partner with innovative companies to help them scale.
- Investment Focus Areas: Business Software, SaaS, Enterprise Technology.
- Notable Investments: Sisense, PerimeterX, Cordial.
- Cultivation Capital
- Details: Cultivation Capital is a venture capital firm that invests in early-stage technology, life sciences, and agricultural technology companies. It supports startups with high growth potential.
- Investment Focus Areas: Technology, Life Sciences, AgTech.
- Notable Investments: Gainsight, LockerDome, Observable.
- Tech Coast Angels
- Details: Tech Coast Angels is one of the largest angel investment groups in the U.S., providing funding and mentorship to early-stage companies. It has a network of over 400 members.
- Investment Focus Areas: Technology, Life Sciences, Consumer Products.
- Notable Investments: Green Dot, Mindbody, Procore.
What's Next for Cloudbeds?
Cloudbeds stands at the cusp of a significant opportunity, driven by the hospitality industry's shift towards digitization and automation. With $150 million in Series D funding, the company is poised to expand its team, accelerate customer acquisition, and enhance its product offerings. The potential for growth is vast, as Cloudbeds already serves over 22,000 properties across 157 countries, indicating a large and diverse market.
Future fundraising opportunities seem likely as Cloudbeds continues to scale and innovate. The company may pursue additional funding rounds to support further development and market penetration. However, challenges such as competition from other technology providers and the need to keep up with rapid technological advancements could pose hurdles. Ensuring seamless integration of various tools and managing global operations will be crucial for sustained success.
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