Salesforce Invests in CloudCraze, Who Raise $20 Million in Series A Funding
Working with Salesforce is infectious for its partner; albeit a productive one. Beginning the year with a bang, continuing with its traditional celebratory mood since 2015, CloudCraze, Salesforce’s natively-built enterprise e-commerce platform, has secured $20 million in funding. The Series A funding is led by Insight Venture Partners, partnered by Salesforce Ventures. The latest round of funding is expected to accelerate B2B commerce product development and team expansion across the US and EMEA.
CloudCraze, as Salesforce’s highly coveted partner, caters to B2B and B2C enterprise e-commerce ecosystem with its omnichannel cloud innovations. Built on the Salesforce1 platform, the cloud-based SaaS for B2B commerce enables marketers to sell their products online seamlessly with a mobile-ready storefront. Considered as the gen-next SaaS commerce solution, CloudCraze allows businesses to tap the potential of digital commerce, generating quick, steady online revenue delivering robust B2B commerce experience.
CloudCraze offers 360-degree perspective across all customer touchpoints based on omnichannel interactions. Clients enjoying its infinite e-commerce functionality include iconic brands such as GE, Coca-Cola, Adidas, Land O’ Lakes, Kellogg’s, Avid, Barry-Callebaut, AB InBev, Ecolab, and WABCO.
The company, founded in 2009, was acquired by former CEO of Acquity Group Chris Dalton, partnered by CMO Matt Schmeltz and CFO Paul Weinewuth in 2015. Earlier, Acquity Group went public in 2012 and was later acquired by Accenture Interactive in 2013 for $316 million. Acquity Group has since been rebranded as Accenture Digital.
In September 2015, CloudCraze partnered with Salesforce to bring in new “Buy Button” capabilities into its B2B commerce solutions suite. The Salesforce Platinum ISV Partner works closely with the Salesforce Community Cloud, powering agile B2B eCommerce solutions.
Talking about the latest funding, CEO Chris Dalton said, “We brought our expertise and knowledge about high growth, the experiences we’ve had with raising capital and taking (companies) public.”
In 2016, CloudCraze hired 60+ employees. In 2017, it could extend its roster strength to 150 or more. It might also open new offices in other parts of the world, especially in Asia and Australia, given the flourishing e-commerce market there.
The B2B commerce market is projected to touch $1.1 trillion by 2020. CloudCraze will play a key role in facilitating this growth trend through its partnership with Salesforce. B2B e-commerce will continue to drive more investments from venture capitalists.