AUSTIN, Texas, Nov. 21, 2019 /PRNewswire-PRWeb/ -- Cloudsnap, a leading managed automation platform that helps companies seamlessly integrate their most important business applications, today announced the appointment of a new Chief Executive Officer and a $1.8 million round in funding. Matt Bradley, who has experience leading high-growth, cloud-based businesses, was appointed as CEO. The round was led by San Antonio-based Active Capital and Houston-based Mercury Fund, and brings the total investment in Cloudsnap to $4.1 million.
Mr. Bradley brings nearly 15 years of technology services experience and most recently served as Chief Strategy Officer of Rackspace, a global leader in managed applications, data, clouds and security. During his tenure at Rackspace, the company grew revenue from $500 million to more than $2.5 billion, tripled its employee base, and launched several new managed service products. He has served as an advisor and board member to technology companies, and early in his career worked as an analyst at Morgan Stanley. He earned a BS from the University of Virginia and an MBA from The Wharton School.
"Matt's experience at Rackspace makes him a perfect fit for Cloudsnap's future as a leader in the managed automation market," said Pat Matthews, CEO and founder of Active Capital. "Large enterprises and growth companies are leveraging dozens or even hundreds of siloed software apps today. Cloudsnap is well positioned to help these companies integrate their software apps so they can perform at their best."
Cloudsnap operates in what industry analysts broadly define as the Integration Platform as a Service (iPaaS) market. Gartner estimates that the market is larger than $1 billion in size and is growing north of 50 percent per year. Within that market, Cloudsnap integrates with nearly 100 mission-critical business applications, has added more than 300 customers in 2019, and is growing revenue faster than 10 percent per month.
"I feel very lucky to lead Cloudsnap. We have an incredibly talented team and a marquee customer list full of modern companies that are automating manual business processes," said Bradley. "We have a unique do-it-with-you model because application integration is hard. We don't sell you a software platform and leave you to figure it out on your own. Our automation engineers build with you."
Founding CEO Rick Barkley, who started Cloudsnap after recognizing the complexities of application integration, will continue to lead the company's product and technology vision as Chief Technology Officer. In conjunction with the additional funding, he will continue the build out of several product features of Cloudsnap's "Do-It-With-You" approach to application integration -- which is designed for customers who want the business agility of an integration platform, but lack either the time or the resources necessary to do it themselves.
Cloudsnap's unique approach to application integration has enabled small businesses and global enterprises to automate high-volume eCommerce sites, automate inventory and vendor management processes, and automate back-office employee expense or people management processes. Customers include Spindrift and Acronis. To learn more about seamlessly integrating your most important business applications, please visit https://cloudsnap.com or email [email protected].
About Cloudsnap
Cloudsnap makes it easy for companies to seamlessly integrate their most important business applications. Through technology and human expertise, we remove the burden of your manual processes (and spreadsheets!) to keep your business application data in sync. We believe that our technology is powerful, but that our onboarding teams and automation engineers — who understand your business needs and build solutions with you — make the difference. We have more than 350 happy customers. We're backed by institutional investors, including Active Capital and Mercury Fund.
About Active Capital
Active Capital is a venture firm designed to lead seed rounds for B2B SaaS companies outside of Silicon Valley. The firm is founded and run by former B2B SaaS founders with hands on experience starting, building, and scaling high growth businesses in underdog cities across America. Active Capital is headquartered in San Antonio, Texas and invests in B2B SaaS companies all over. To learn more, please visit https://www.activecapital.com.
About Mercury Fund
Mercury Fund is an early-stage venture capital firm. With over $275 million under management, Mercury focuses on entrepreneurs and technology innovation originating in the U.S. Midcontinent. Our investment themes target SaaS, Cloud, and Data Science/AI platforms that make the industrial ecosystems of Middle America more competitive and efficient.
SOURCE Cloudsnap
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