(Photo by Flickr user Cheryl, used under a Creative Commons license)
— Tracey WelsonRossman (@TWelsonRossman) August 3, 2017
— Rick Nucci (@ricknucci) August 3, 2017
— Josh Kopelman (@joshk) August 3, 2017
Exact numbers from the deal haven’t been disclosed, but founder Khushboo Shah called the move a success for the venture-backed cloud computing analytics company she founded in 2012.
(Though Philly has seen its fair share, investors have said more exits are needed to increase the flow of angel investments in the area.)
To get a better grasp on the deal’s scope, we got input from investors on how they made out from the exit, starting with lead investor MissionOG.
Managing Partner George Krautzel said that, as lead investor, the Center City firm was “excited about the strong outcome” for the early backers of the company.
“This is a great step in the company’s evolution,” said Krautzel, who also sits on Cloudamize’s board. “We actively worked with the founders to recruit in Bob Moul 18 months ago. The combination of Khushboo and Stephen’s ingenuity and Bob’s know-how on scaling a business has resulted in very strong growth over the past six quarters.”
“Cloudamize is what the Philadelphia tech community should strive for: keep your head down, innovate, and delight customers,” Krautzel said.
We heard a similar tune from the Dreamit Ventures camp, which saw Cloudamize really early on as part of its Fall 2012 incubator cohort.
“We are thrilled to have been an early investor and to have provided continued support throughout their growth,” said Chief Investment Officer Karen Gryffith Gryga. Dreamit’s Seth Berk declined to disclose any numbers but said the firm is “indeed very happy with the merger.”
— Steve Barsh (@sbarsh) August 3, 2017
Richard Vague’s firm, Gabriel Investment, also backed the company early in the going. Holly Flanagan, Managing Director for the Center City investment firm, also welcomed the news but pointed to one perk of the deal few mentioned: it means the entrance of two new players to the tech ecosystem.
“We are thrilled for Bob, Khushboo and the entire Cloudamize team,” Flanagan said. “Blackstone and Cloudreach are stellar organizations and we are grateful for their investment in Cloudamize and their desire to continue growing here in Philadelphia.”-30-
This First Round-backed company just got scooped up by Amazon
Breaking: Stitch acquired by California-based Talend in $60M deal
European expansion: Comcast on track to acquire British broadcaster Sky
This rising fintech startup is helping make life’s expenses easier to manage
How the Philly tech community helped Local Stove get acquired
This $390-million Grubhub deal was good for Dreamit
Wayne’s Evolve IP buys Minnesota’s AiTech, adds 20 staffers
Pitch to speak at Comcast Labs Connect’s data security conference
Sign-up for daily news updates from Technical.ly Philadelphia