- BetterCloud’s existing investors, including Accel, Bain Capital Ventures, Warburg Pincus, will continue as minority investors
- “This investment is a major milestone in our journey,” said David Politis, CEO, BetterCloud
- Block (formerly Square), Oscar Health and HelloFresh use BetterCloud’s SaaS services
Tech-focused private equity firm Vista Equity Partners has announced a strategic investment in SaaS management platform provider BetterCloud. The strategic investment will look to accelerate growth and allow BetterCloud to expand into new geographic markets.
SaaS is increasingly important, with organizations using an average of 110 SaaS applications, according to the deal announcement. BetterCloud was founded in 2011 to help manage every aspect of a company’s SaaS application stack. BetterCloud supports companies in three key areas of SaaS operations management: data protection, application insights and user lifecycle management.
Patrick Severson, Co-Head of Vista’s Foundation Fund and Senior Managing Director said of the investment “As the suite of SaaS applications for the enterprise continues to grow and is further integrated into operations, application management has become mission-critical for businesses.”
“This investment is a major milestone in our journey,” said David Politis, CEO of BetterCloud. “Vista is the perfect partner for BetterCloud given their tremendous experience and track record of investing in the best SaaS companies in the world.”