Quality Clouds, the development governance platform for ServiceNow and Salesforce, has secured £3.5m of investment from funds managed by YFM Equity Partners (YFM). An additional £1.75m participation comes from incumbent shareholders, Adara Ventures, and new investors Aldea.
This investment will strengthen the company’s offering globally and increase Quality Clouds’ ability to help ServiceNow and Salesforce customers unlock the value of their investments. It follows strong growth in the USA, where 45% of Quality Clouds’ clients are based and a new team has recently been appointed.
Albert Franquesa, CEO and Co-Founder says:
“YFM Equity Partners’ tech track record was crucial for us. We see them as part of the team and welcome their strategic input. This investment, coupled with our new corporate structure, will turbo-charge the company in the coming months. Our clients will also get a boost from our ability to enable development speed, quality and security on ServiceNow and Salesforce platforms”.
YFM has a growing national portfolio of software and tech businesses, including data transformation software company Matillion, innovation intelligence provider Vypr and text analytics platform Relative Insight.
Adam Hart, investment director at YFM says:
“As cloud applications continue to push the low-code/no-code development, the requirement for a control and governance tool is increasing exponentially. Quality Clouds addresses this need, and the investment round will allow the team to capitalise on the huge opportunity ahead.
“We have been really impressed with the team and their deep domain knowledge. The company also has a powerful vision and a clear roadmap to scale that vision internationally and across multi-cloud applications – we’re looking forward to working alongside this exceptional team to help them reach their goals.”
Quality Clouds has also strengthened its team with the appointment of highly experienced industry professionals. Mark Sutherland joins as the new non-executive Chairman and Kevin Tumulty (formerly EMEA VP at ServiceNow), John McAdam (formerly CEO of F5 Networks) and Sander Daniels (formerly Head of Financial Services Industries Northern Europe, Germany & UKI at Salesforce) join the new Strategic Advisory Board.
In a further appointment, K.C. Watson has joined the Quality Clouds senior leadership team. As Chief Revenue Officer he works alongside Co-Founders Albert Franquesa (CEO) and Angel Marquez (CTO). K.C. brings extensive enterprise SaaS go-to-market experience to the company following his nearly two decades tenure as executive and founder in Silicon Valley.
Mark Sutherland, Chair of the Board says:
“Against the backdrop of constant corporate digital transformation, technology leaders need to regain control of the quality and governance of their SaaS systems and platforms. I’m really excited to be involved with Quality Clouds as this new investment combined with their technology makes the company ideally placed to support ambitious enterprises”.
See the full press release here.
About Quality Clouds and YFM Equity Partners
Quality Clouds is the leading DevOps quality and governance solution for SaaS platforms at the forefront of workflow automation, including ServiceNow and Salesforce. Quality Clouds brings new levels of governance and control to traditional and low-code development – maximising long term platform returns for customers. Global leaders like BP, Barclays, Merck, Mayo Clinic, and Thermo Fisher rely on Quality Clouds to proactively and safely expand ServiceNow and Salesforce functionality at speed and scale. Learn more at http://www.QualityClouds.com.
YFM Equity Partners are specialist, independently owned, private equity investors. Celebrating our 40th year of investing experience, we seek to unlock value and growth potential by providing up to £10 million of equity to fuel the development of established business throughout the UK regions. We do this by helping our portfolio companies grow niche businesses, launch new initiatives, make transformative acquisitions, and upgrade technologies and systems. We are dedicated to working alongside management teams to create long-term value for our investors, the companies we invest in and a positive economic impact for the communities in which we work. We manage funds in excess of £420 million which include venture capital trusts and private equity funds.