SANTA CLARA, Calif.–(BUSINESS WIRE)–February 15, 2022–
Cloudinary, the media experience cloud company that powers many of the world’s top brands, today announced a secondary investment from funds managed by Blackstone Growth (BXG). The transaction represents an investment of more than $100 million and values Cloudinary at $2 billion USD.
As a successful bootstrapped cloud company – and one that just reached the coveted $100 million ARR mark in December – Blackstone’s investment is a benefit Cloudinary is proud to make available to its employees. Blackstone has also committed to supporting Cloudinary’s future business expansion, including M&A. Cloudinary recently acquired Indivio, an innovative video software company that helps marketing teams unlock the potential of the fast-growing video market by delivering hyper-personalized videos at scale that are customized in real-time for every target audience.
Cloudinary’s accelerated growth highlights its leadership in visual media and the market’s rapid shift towards digital-first engagements and visual-first customer experiences. Creating and delivering these experiences quickly and at scale is critical to all online businesses. Cloudinary’s automated, AI-powered approach to media management makes it possible for brands to deliver rich digital experiences with dynamic images and videos at scale by eliminating operational inefficiencies and technology barriers.
“Remarkably, and somewhat quietly behind the scenes, Cloudinary powers the websites and apps that millions engage with every day,” said Ramzi Ramsey, Managing Director at Blackstone Growth. “We are very excited to support the next phase of growth for this tremendous company which is playing a critical role as more and more businesses emphasize digital media and their online experiences.”
“This investment marks an important milestone for all of us here at Cloudinary,” said Co-founder and CEO Itai Lahan. “We are excited to be partnering with Blackstone at this stage in our business, and look forward to accelerating our growth and making it even easier for our customers to unleash the full potential of their visual media.”
Cloudinary’s mission is to empower companies to deliver visual experiences that inspire and connect by unleashing the full potential of their media. With 60 billion assets under management and nearly 10,000 customers worldwide, Cloudinary is the industry standard for developers, creators and marketers looking to manage, transform, and deliver images and videos online. As a result, leading brands like Atlassian, Bleacher Report, Bombas, Grubhub, Hinge, NBC, Mediavine, Minted, Peloton and Petco are seeing significant business value in using Cloudinary, including faster time to market, higher user satisfaction and increased engagement and conversions. For more information, visit www.cloudinary.com.
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $881 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220215005829/en/
Sr. Director, Global Communications
VP, Public Affairs
VentureBeat’s mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More
Source: Read Full Article