AllCloud Buys Figur8, Makes Big Push Into North America
Israel-based AllCloud on Tuesday announced an additional presence in North America with the acquisition of Figur8 Cloud Solutions, headquartered in Toronto. The channel partner also said it raised $7 million in new funding led by existing AllCloud investors, as well as Discount Capital and Hallett Capital.
Established in 2008, AllCloud, a solution provider and MSP, offers services up and down the cloud stack, from infrastructure to the software layer. The company’s core technology partners include AWS, Google, Salesforce and NetSuite. AllCloud was on a mission to find an acquisition to expand its footprint, replicate the success the company has had in Israel and Europe – particularly in Germany – and dive into the small and medium-size business market — companies with up to 5,000 seats.
“As we looked for an acquisition in North America, what we saw is that the acquisitions of companies like Cloud Sherpas, Appirio, and BlueWolf and others, there was a void in the market, especially in the midmarket space, creating an opportunity to serve these customers,” Eran Gil, recently appointed CEO of AllCloud, told us.
Gil knows a thing or two about Cloud Sherpas. He was one of three to found the company – the others being Michael Cohn and David Hoff – in 2008, and served as senior vice president global business development before Accenture acquired the cloud computing and technology services company in 2015.
Gil was one of several existing investors in AllCloud who, in December 2017, along with an anonymous group of New York investors, raised $3 million for the company.
Figur8 co-founders Ojay Molanzo and Richard Lockson were Salesforce veterans prior to founding the company.
“The acquisition of Figur8 provides us the ability to better support our customers’ digital-transformation efforts on a global scale,” said Gil.
Today, AllCloud has 120 employees in Israel and an additional 30 in Europe. The company gains another 40 employees with the Figur8 purchase. The company’s footprint now includes AllCloud locations in Israel, Munich, Berlin and Bucharest, and Figur8 locations in Toronto, San Francisco, New York and Vancouver. Expect to see additional acquisitions, said Gil.
The company also announced executive appointments, including Gil, who served as executive board director in 2015. Ronit Rubin, who was CEO, will become general manager of EMEA, and Jon Hallett, an early investor and CEO of Cloud Sherpas, joins the board of directors. Dr. Shai Weil will remain the chairman of AllCloud’s board.
AllCloud’s vertical focus is on startup high-tech firms, financial services and the industrial sector, as well as health care and life sciences. In Israel, the partner also sells to the government.