BetterCloud, a NYC-based SaaS operations management platform, closed a $60m Series E financing.
The round, which brings total funding to $107m, was led by new investor Bain Capital Ventures with participation from Bain Capital Ventures and existing investors Accel, Greycroft Partners (through Greycroft Growth), Flybridge Capital Partners, Tribeca Venture Partners, and New Amsterdam Growth Capital. In conjunction with the funding, Enrique Salem, managing director at Bain Capital Ventures and former president and CEO of Symantec, and Arun Mathew, Partner at Accel, will be joining BetterCloud’s board of directors.
The company will use the funds to scale sales and marketing and accelerate product innovation for its platform.
Led by David Politis, CEO, BetterCloud provides a SaaS Operations Management platform, allowing IT at over 2,500 customers in 60+ countries to define, remediate, and enforce management and security policies for SaaS applications.