Cloud Sherpas funding, acquisition points to hot SaaS market

Atlanta-based consultancy Cloud Sherpas today announced $40 million in new funding and the acquisition of another consulting firm in California named Cloud Trigger.

Cloud Sherpas helps customers migrate workloads to the cloud, specifically SalesForce.com's CRM cloud, and to Google's cloud. Since founding in 2008, Cloud Sherpas says it now has 3,000 customers and that it expects to surpass $100 million in revenue in 2013. The company has 350 employees at offices in Atlanta, Brisbane, Chicago, Manila, New York, San Francisco, San Diego, Sydney and Wellington.

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The latest $40 million funding round doubles the venture capital financing the company has received in the past. Investors include Columbia Capital, Delta-V Capital and new investor Greenspring Associates. The funding announcement points to the continued interest venture capitalists have in enterprise-geared startups and emerging technologies, including cloud computing and specifically software as a service (SaaS). Cloud Sherpas has had three previous rounds of funding totaling about $23 million in the past, including a $20 million round in March.

The CloudTrigger acquisition is the eighth consulting practice the company has purchased since 2007. CloudTrigger helps customers migrate to SalesForce.com and is the maker of G2Maps, a geographic mapping analytics and visualization app available on the Salesforce AppExchange.

Network World staff writer Brandon Butler covers cloud computing and social collaboration. He can be reached at BButler@nww.com and found on Twitter at @BButlerNWW.

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