The Israeli digital image and video delivery company has raised the money in a secondary offering.
Israeli digital image and video delivery company Cloudinary today announced that Blackstone Growth is investing more than $100 million as a secondary investment in the company, at a valuation of $2 billion. This is npot the first time that the bootstrapped company’s founders and employees have sold shares. Blackstone’s investment follows three previous secondary rounds, by Salesforce Ventures in 2020 and Bessemer Venture Partners (BVP) in 2018 and 2015.
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Founded by CEO Itai Lahan, CPO Nadav Soferman and CTO Tal Lev-Ami, Cloudinary has developed a platform and software that allows high quality and rapid delivery of images and video. The company reached $100 million in annual recurring revenue in December.
Lahan said, “This investment marks an important milestone for all of us here at Cloudinary. We are excited to be partnering with Blackstone at this stage in our business, and we look forward to accelerating our growth andwhile making it even easier for our customers to unleash the full potential of their visual media.”
Blackstone Growth managing director Ramzi Ramsey added, “Remarkably, and somewhat quietly behind the scenes, Cloudinary powers the websites and apps that millions engage with every day. We are very excited to support the next phase of growth for this tremendous company which is playing a critical role as more and more businesses emphasize digital media and their online experiences.”
Published by Globes, Israel business news – en.globes.co.il – on February 15, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
Cloudinary CEO Itai Lahan Photo: Cloudinary
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