Caple has completed the growth funding of London-based Cloud Booking Limited for an undisclosed amount. Cloudbooking will use the funding to meet increased global customer demand following the COVID-19 crisis and scale its workplace management software platform to deliver innovative new ways of working to its rapidly growing client base.
Cloudbooking’s software-as-a-service business model means clients benefit from new service enhancements via a microservices-based platform, enabling seamless integration with core services such as M365, Microsoft Teams, GSuite and Zoom, and leading brands such as Uber and Google Maps, whilst enabling users to book and manage a host of workspace facilities, including desks, rooms, and visitors. Cloudbooking also integrates with a range of sensor partners to allow automated management of buildings based on live occupancy and touchless check-in via QR codes. The demand for these services has accelerated dramatically during the current pandemic.
In an industry currently experiencing explosive growth, Cloudbooking has quickly emerged as a leading supplier in the workplace management sector since the relaunch of its Cloud-based platform in 2017. Today it processes millions of bookings every year for many of the world’s largest companies, such as Lloyds Banking Group, Anglo American, EDF, NHS, Experian, Fiserv, Airbus, ViacomCBS and Microsoft. With continuous product innovation and customer care at its core, clients are turning to Cloudbooking to help them leverage technology and data to bring innovation to the workplace, delivering superior employee experiences, boosting real estate efficiencies, and empowering a new hybrid way of working in a post-COVID-19 world.
“The accelerated digital transformation of the workplace presents an incredible opportunity for Cloudbooking and our innovative range of customisable workspace management services,” said Gerry Brennan, CEO, and founder of Cloudbooking. “We’re excited to have Caple supporting us in our strategic global vision as we continue our rapid growth and push on with our product roadmap and expansion plans.”
The Caple team worked alongside Partner firm MV Advisory to understand the Cloudbooking growth opportunity, their financing requirement and cashflow forecasts. The long-term nature of the funding means that Cloudbooking can focus on long-term growth plans.
“Gerry and the team at Cloudbooking have built a terrific business, meeting the needs of long-held client relationships. Through their pivotal role during the Covid-19 pandemic to bring the workforce back to the office, both in the UK and globally, Cloudbooking has demonstrated its continuous value to businesses, large and small. This finance facility will fund further growth, without the current shareholders having to give away a large equity stake or control of the business, which they have worked so hard to build. Cloudbooking will continue to go from strength to strength. I wish them every success and am very pleased to assist them on their journey.” Karen Greenwood MV Advisory
“This is another shining example of a strong, asset-light, business benefiting from our innovative, adaptive funding model. We look forward to watching Gerry and the Cloudbooking team grow such an exciting business and continue to add huge value to their clients at a very tough time.” Sean Brophy, Country Manager, UK Caple International.