Google Apps developer BetterCloud, which launched into the Google Apps Marketplace about six months ago, has received $5 million in financing to develop better cloud management and security tools for Google (NASDAQ: GOOG) Apps users.
The round of financing was led by Flybridge Capital Partners, but also included Greycroft Partners and TriBeCa Venture Partners, as well as continued support from existing investors Bear Creek Capital and BLH Venture Partners. BetterCloud plans to use the cash to develop stronger cloud management and security tools while also accelerating the adoption of cloud services. That's according to the company, which so far has raised a total of $7.2 million in financing.
BetterCloud's flagship product is FlashPanel, a directory management and Google Drive security application that was designed to provide Google Apps administrators with added controls, visibility and automation. Additionally, BetterCloud powers Ask the Gooru, a provider of free Google Apps training videos.
About the time BetterCloud launched, it also joined the Cloud Alliance for Google Apps, a network of SaaS providers focused on developing applications that somehow augment, enhance or extend the Google Apps user experience. The alliance formed in November 2011 and currently includes a dozen SaaS providers within its membership.
In the short time BetterCloud has been in the market, it has picked up plenty of customers around the world through the Google Apps Marketplace. The company claims to have more than 15,000 customers with 5.5 million end users around the globe.
Through its new funding, BetterCloud will expand its sales, marketing and product development efforts to further accelerate FlashPanel adoption.
"2012 was a great first year and this year we're looking forward to building on FlashPanel's foundation by expanding its powerful feature set to service more of the Google Enterprise Cloud," said David Politis, founder and CEO of BetterCloud, in a prepared statement.