The amount of the transaction was not disclosed.
The company intends to use the proceeds to expand its product offering with customized Salesforce software for alternative asset managers.
Led by Brian Marchand, Chief Executive Officer, Cloud Theory provides FundEngine, a solution designed and built in partnership with the Blackstone Innovations team, which offers a client-facing customer relationship management system for alternative asset management firms that leverages the Salesforce platform. It customizes the Salesforce platform and tailors it for alternative asset management business development, fundraising and client relations, as well as fund management, due diligence and research management.
FundEngine also integrates with industry vendors, back office systems and fund administrators.