CloudBolt Announces $23M Investment from Insight Venture Partners to Accelerate Growth of Hybrid Cloud Management Platform

By StartUp City | Friday, November 30, 2018

CloudBolt Software Inc., engineers of a noted self-service hybrid cloud platform, today declared a $23M Series A financing round drove by Insight Venture Partners, a New York-based investment and private value firm.

"Today's Enterprise IT team is under tremendous pressure to deliver value to the business at an unprecedented rate. Delivering self-service access to hybrid cloud resources while maintaining compliance and cost management is no longer a nice to have. It is a requirement." said Brian Kelly, CEO of CloudBolt. "CloudBolt helps organizations harness the power of the cloud to deliver and deliver faster, more efficient workflows and systems at scale. The partnership with Insight Venture Partners is going to allow us to deliver a richer experience to users at a faster pace, grow our team, and continue our focus on providing customers with a great experience."

"Leveraging cloud technologies will only become more commonplace in the foreseeable future, and developers will need tools to help them simplify this process for end-users – that's where CloudBolt comes in," said Phil Vorobeychik, Principal, Insight Venture Partners. "We are thrilled to welcome CloudBolt to our portfolio and are looking forward to helping drive this next stage of growth together."

The organization expects to utilize the proceeds to venture into new markets and verticals while further building up their offering and combinations.