$35 Million in Funding to Help Customers Win in the Cloud Economy

April 16, 2015 Chris Barbin

cloudeconomy

Today we announced that we have raised an additional $35 million in funding led by Fidelity Management & Research Company. The technology industry is rife with new rounds of funding – from the $200 million Series D announced this week by our friends at Domo to the $2.8 billion Series E that Uber raised earlier this year. It’s always interesting to read about the numbers, but I’ve always been more fascinated by what people do with the money.

Since we were founded in 2006, we’ve raised more than $100 million in funding from some of the smartest investors in the business. These include Sequoia Capital, the investment firm behind Google, LinkedIn and PayPal. GGV, a prominent venture capital firm focused on the U.S. and China that has invested in the likes of Alibaba, BuddyMedia and GrabTaxi. General Atlantic, a global investor in companies such as Box, Facebook and Gilt. And now we are lucky enough to add Fidelity to that list.

We’ve been very deliberate with our capital, focusing it on building a great company, with great people, who are dedicated to delivering unprecedented value for our customers. We want to be the next generation services and crowdsourcing company against which all others are measured.

More than 8 years ago we wrote a manifesto called Services 2.0 that called out the promise of cloud and its potential to transform IT, services and business models, and the impact this would have on the traditional professional services space. That promise has played out over the last few years as we’ve entered an era we call “the cloud economy.”

The cloud economy is more than just cloud computing. It’s an environment in which companies can move at unprecedented speed by connecting to and building on the data, expertise, pre-existing solutions and collective intelligence made more accessible through the cloud and new workforce models like crowdsourcing. We orchestrate those connections, and teach organizations how to capitalize on them so they can respond faster, experiment and make confident decisions.

We’ve got a bold mission, and while we’ve made a lot of progress we’re still in the early innings of the game. We will be using this capital to help take our company and what we offer customers to the next level.

One of our biggest areas of investment will be building out our Appirio Services Platform. Today this is part of our secret sauce in how we deliver services differently, and why our customers see better results, faster than they would with our competition. Today that platform has been primarily internal facing. Moving forward, you’ll see us come out with new offerings that enable partners and customers to have on-demand access to our internal expertise, our pre-built solution accelerators, and more than 750,000 designers, developers and data scientists in our crowdsourcing community.

We are excited to announce Alex Castro as our new Chief Technology Officer who will oversee these efforts. As the former VP of Product for Electronic Art’s cloud-based data and analytics platform, Alex brings with him a wealth of product, cloud and crowd experience. He has also worked on the Amazon Web Services (AWS) team where he led the effort to launch Amazon’s crowdsourced marketplace, Mechanical Turk, and been the CEO of his own business.

Over the last year we have welcomed a number of new members to the executive team. This includes Tim Medforth, our SVP of our International Operations, who brings 25 years of experience in enterprise IT. He is a former member of the Board of Accenture UK and Ireland. This year we expanded our Dublin Development Center, and Tim will be leading the charge looking at areas for international expansion.

We also recently brought on Catherine Lang as our Chief Learning Officer. Cat is a salesforce.com and Google veteran who designed and implemented Google Enterprise Partner University and is an expert on change management. We talk a lot about changing the way people work, and as we do with other areas in which we do business, we’ll be turning the lens on ourselves experimenting with new ways to give our workforce a better, more customized experience.

Expect a lot more from us over the coming months and years as we grow our existing business, expand into new areas and continue to show customers why they should demand more from their service providers.

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