San Francisco-based venture capital firm Cloud Apps Capital Partners officially launched operations.
Founded by former salesforce.com executive and venture capitalist Matt Holleran, the firm will target early-stage companies in the cloud business applications sector leading Series A financings of $2m to $4m and providing board support.
Holleran and his team, who have decades of operational and go-to-market experience building and investing in business software companies, will evaluate and invest in cloud business app companies ahead of market traction via an oversubscribed first fund amounting to more than $50m received from leading institutional investors, technology executives and investors.
To date, the firm has invested in seven companies including:
– Hootsuite, the global social media management platform;
– ServiceMax, the field service management software provider;
– Insightly, a business freemium CRM provider;
– Dasheroo, a business freemium company solving a global need for business dashboards; and
– GoFormz, a mobile enterprise platform.