FTV Capital leads $65m round for CloudFactory

As part of the transaction, FTV Capital partner Alex Mason and principal Abhay Puskoor and Weatherford Capital partner Sam Weatherford will join the CloudFactory board of directors.

The company plans to use the fresh capital to boost its growth and scale up its team.

Previous funding
Following two series-A rounds in 2014 and 2015 of $3m and $2m respectively, the company raised $7.3m in a series-B round from Dolma Impact Fund and The Social Entrepreneurs’ Fund in May 2017.

Company
Headquartered in Reading, UK, and Durham, US, CloudFactory provides monthly workforce subscriptions that include a vetted, remote team equipped with the tools and technology needed to scale a business process in the cloud. Applications include tech companies developing products requiring human-powered features such as document transcription, or require human-trained algorithms such as the AI in self-driving cars.

People
FTV Capital - Alex Mason (partner).
CloudFactory - Mark Sears (founder, CEO).

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