InSoft Partners has bought 15% and its syndicate partner Belkins – another 10%.
The parties did not disclose the financial details and other terms of the deal.
Cloudfresh’s annual revenue amounts to $14 million.
Cloudfresh was founded by Ukrainian entrepreneurs Bohdan Kubenko and Oleg Maksimovich and Czech citizen Radek Levicek in 2017. The company is a premium partner of such global brands as Google Cloud, Asana, and Zendesk and performs reselling, migration, implementation, and integration of products from these vendors.
“Cloudfresh is already a major player in many markets. Our goal in this partnership is to structure the business and build a system to scale it up significantly. We believe we know how to expand the company’s geographic footprint and increase margins. We are involved in this project on virtually a daily basis via oversight of some departments and providing assistance with processes and strategies. To accelerate growth, we have also invited the guys from Belkins to join the syndicate,” said Vitaly Gorovoy, founder of InSoft Partners.
Currently, the company has over 1,000 active SMB and enterprise level customers and representative offices in Ukraine, Poland, Qatar, Russia, the Netherlands, and the Czech Republic.
“Together with InSoft and Belkins, we solve strategic and operational problems, as well as providing new opportunities for our employees. Thanks to the expertise of our partners, Cloudfresh is contributing even more to the digital transformation field, for both the company’s existing and future clients,” said Bogdan Kubenko, founder of Cloudfresh.
InSoft Partners is a global investment firm. It buys stakes in tech companies with revenues of $3-$15 million, gets involved in operational processes, and helps businesses grow organically and inorganically (through M&A deals).
Belkins is an international marketing agency dealing with the full sales cycle and business development, including lead generation, marketing, sales, B2B, and brand development.