By Cloudbeds | Published on June 22, 2017
Cloudbeds is excited to announce that we have completed an oversubscribed $9 million Series B financing round, led by PeakSpan Capital, which brings our total funding to over $20 million. We will use the new funds to add more resources across our product, marketing, and technology teams, as well as acquire companies and expand our presence. We’re also honored to have Nashville Capital, Cultivation Capital, ClearVision Equity, and TTCER Partners reinvesting in Cloudbeds this round.
As investors, PeakSpan has an incredible track record of building successful companies, and their insights will be especially helpful during our next phase of growth. PeakSpan and Cloudbeds share similar cultures and values – both believe in building highly customer-centric companies, obsessing over product, and prioritizing company culture. After talking to many of their portfolio companies, it was clear that PeakSpan was the perfect partner to guide us into the future.
Our Series B round marks a significant milestone in our journey and has provided an opportunity to reflect on everything that the original vision stood for and everything that we aspire to become.
Our Journey So Far
Since our founding, Cloudbeds has experienced tremendous growth. We’ve become a trusted leader in bringing new approaches, practices and principles to the tens of thousands of properties that we serve in 120+ countries worldwide. As founders, we never thought that our little idea would grow to this size so quickly. We are both humbled and proud of this accomplishment, but we couldn’t have done it without you, our customers, and our employees.
Our journey started with a vision to create the kind of company we, as employees or customers, would want to work with — a company that empowers lodging owners and teams to do their best work, reach a larger audience, and successfully compete on a global scale.
Our company has grown considerably. Today, our team consists of 102 people from 20 countries. Recently we were honored to have been named one of Inc. magazine’s Best Workplaces for 2017; an award that recognized our workplace for its vibrant culture, employee engagement, and diversity.
That’s why we’re excited to announce what you can expect going forward. Our partnership with PeakSpan marks the start of a new journey and an opportunity to help our customers innovate, transform and evolve.
A Bigger, Better Platform
We continually strive to build a better platform and we are excited that this new round of fundraising will help us accelerate the release of new functionality. Through our idea board and customer interviews, we’ve gathered feedback from our users on how we can continue to improve our products and services. As a result, we’ve put together a roadmap of new features that we can’t wait to roll out. These include:
- Pricing Intelligence
- Guest Messaging & Communications
- Inventory Management
- Point of Sale Integrations
- Government Invoicing Compliance
- Booking Engine Enhancements
- Additional Language Support
- New Payment Processing Options
- Group Reservation Functionality
- Expansion of our Multi-Property Functionality
- Reports, Reports, and More Reports
New Faces, Still Cloudbeds
Although our team is rapidly growing, Cloudbeds will remain a customer-centric company dedicated to providing our customers with the best possible products and services We couldn’t be more thrilled to welcome the new members of our Cloudbeds family who will continue to fuel our mission to improve the lives of hoteliers and guests.
A big thank you to everyone who’s supported us – the team, customers, and investors. We couldn’t do it without you.
Cheers to more reservations and happier guests,
Adam & Rich