BetterCloud

BetterCloud

Company type	Private
Industry	Software, SaaS management
Founded	November 2011 (2011-11)
Founder	David Politis, David Hardwick
Headquarters	New York City , United States
Area served	Worldwide
Key people	Jesse Levin (CEO), Sean Hill (CFO), David Bean (CTO), Alyxa Lease (CPO), David Politis (Executive Chairman)
Products	SaaS management solutions
Number of employees	14,000 IT specialists (as of 2018)
Parent	Vista Equity Partners (controlling interest since June 2022)

BetterCloud operates as a privately held software company based in New York City, with its engineering team located in Atlanta. The firm specializes in comprehensive SaaS management solutions. As a venture capital-backed enterprise, it has amassed $187 million in funding to date, including a $75 million Series F round spearheaded by Warburg Pincus. Earlier financing included a $60 million Series E round in April 2018 led by Bain Capital Ventures. In December 2016, the company shifted its focus from solely managing G Suite to overseeing a broader range of SaaS applications.

History

Established in November 2011 by entrepreneur David Politis together with former CTO David Hardwick, BetterCloud initially introduced DomainWatch, a security-focused tool designed for Google Docs, Sites, and Calendar. The startup secured $2.2 million in seed capital from angel investors by May 2012.

By January 2013, BetterCloud’s FlashPanel product was managing 15,000 domains and supporting over 5 million users. This milestone coincided with a $5 million Series A investment led by Flybridge Capital Partners and other backers, bringing total funding to $7.2 million. In September of the same year, the company completed a $6 million Series B round, again led by Flybridge Capital Partners, which enabled expansion of its offerings to include cloud platforms like Zendesk and Salesforce.com.

In February 2015, FlashPanel was rebranded as BetterCloud for Google Apps, alongside the beta release of BetterCloud for Office 365, extending SaaS monitoring and alerting capabilities to Microsoft’s Office 365 suite. The following month brought a $25 million funding round led by Accel Partners.

By September 2018, BetterCloud had broadened its platform to support integrations with leading SaaS applications such as G Suite, Atlassian, Box, Dropbox, Namely, Office 365, Okta, Salesforce, Slack, and Zendesk as part of its shift toward general SaaS management. The April 2018 Series E round led by Bain Capital Ventures doubled the company’s valuation to $270 million. Soon after, BetterCloud entered into a strategic alliance with Okta to strengthen identity and access management capabilities.

In early 2019, the company enhanced its platform dashboard to enable management of any SaaS application and introduced an Integration Center aimed at facilitating developer-created integrations. September 2019 saw Dropbox make a strategic investment of $5 million while also formalizing a partnership.

Leadership changes occurred in May 2023 when Jesse Levin was named CEO and founder David Politis transitioned to Executive Chairman. Prior to this, in June 2022, Vista Equity Partners acquired a controlling interest in BetterCloud for an undisclosed amount.

This progression underscores BetterCloud’s focused leadership strategy and sustained growth within the SaaS management sector through deliberate investments, collaborative partnerships, and expanded product offerings aligned with evolving market needs.

Leadership

Jesse Levin serves as the Chief Executive Officer of BetterCloud, with crucial support from the following senior leaders:

• Sean Hill, Chief Financial Officer
• David Bean, Chief Technology Officer
• Alyxa Lease, Chief People Officer
• David Politis, Former CEO and current Executive Chairman

Customer and revenue

By 2018, BetterCloud had expanded its reach to around 2,500 clients and engaged 14,000 IT specialists in over 60 countries, demonstrating its widening international presence and increasing market penetration.

Awards

• Positioned at #11 on Crain's 2018 Best Places to Work in NYC list, highlighting its exemplary workplace environment and effective leadership.