Round to go towards Boosting Digital Transformation and Automation Initiatives
SANTA CLARA, Calif., December 11, 2018 – Quali, the leader in delivering environments-as-a-service for cloud and DevOps automation, today announced a $22.5M Series-C funding round led by venture firm Jerusalem Venture Partners (JVP) and with participation from existing and new investors.
With more than 200 customers worldwide including several Tier-1 enterprises, service providers and technology vendors, Quali’s CloudShell platform is the industry leader in self-service environments for a variety of use-cases including DevOps automation, technical sales demos as well as cyber security and compliance.
The funding allows Quali to further increase their momentum in the enterprise accelerating growth in cloud, security and DevOps use-cases. Over the past two years, the company has demonstrated over 50 percent annual recurring revenue (ARR) growth and expanded into the enterprise. It has added new customer logos across a variety of segments, including the likes of Bank of America, Wells Fargo, Department of Defense and IBM, among others. The company has also transitioned to a subscription-led offering from a perpetual license-based sales approach with more than 70 percent of its revenues coming from subscription. Finally, the company has been able to dramatically expand the use-cases that are enjoying significant ROI and lower TCO as a result of implementing CloudShell.
With this investment JVP joins the Quali board with Yoav Tzruya, JVP’s General Partner, taking on the role of Board Chairman. Lior Koriat, CEO and Boaz Dinte, Managing Partner at Evergreen Ventures will continue to serve on the board. The board observers would also include representation from Dell Ventures and Kreos Capital.
“Quali is a proven category leader in the Public and Private Cloud Automation category. With multiple companies addressing the global trend of digital transformation, we constantly witness organizations struggling with streamlining ever-increasing complex deployments. We believe the need for CloudShell will continue to grow,” said Yoav Tzruya, General Partner at JVP. “We are encouraged to see existing customers re-engage to deploy more use-cases, as well as additional industries and geographies that are engaging with the company.”
Quali’s Cloudshell-based solutions improve productivity of dev/test engineering organizations, accelerate the sales cycles for selling organizations and help improve the security and compliance posture for security teams. Its blueprint-based, self-service approach has been demonstrated to increase productivity by 30 percent, cut down costs by 40 percent and increase infrastructure efficiency by over 30 percent.
“We’re seeing a strong uptake of our solutions with hundreds of customers globally as they invest in digital transformation initiatives,” said Lior Koriat, CEO of Quali. “We’re quite pleased to raise this new round of funding and welcome the investment from JVP that has a demonstrated track record of building great companies. The Quali CloudShell platform is a proven leader in the industry and this new round allows us to accelerate our go-to-market and increase our innovation velocity.”
In addition to JVP, existing investors including Dell Ventures, Kreos Capital, Evergreen Ventures, Gemini Israel Ventures and ORR Partners participated in the round.
As part of this expanded funding, Quali intends to expand its sales footprint in the United States with new offices in the city of Austin.
Quali is a software company focused on automation and orchestration software to deliver environments-as-a-service for digital transformation initiatives aligned with cloud, DevOps and Security. Its industry-leading CloudShell platform delivers helps enterprises and service providers increase productivity and efficiency for engineering, sales and security organizations while cutting costs dramatically. Quali’s customers include several of the Fortune 500 and the Global 100. More information about Quali is available at www.quali.com.
About Jerusalem Venture Partners (JVP):
Jerusalem Venture Partners (JVP) is an internationally renowned venture capital fund based out of Israel. Established in 1993 by Dr. Erel Margalit, JVP has raised to date $1.3 billion across 9 funds, and has been ranked numerous times by Preqin as one of the top-ten consistently performing VC firms worldwide. JVP has built over 130 companies, leveraging a broad network of partners and market expertise to help companies to become global market leaders. Among the pioneering firms of the Israeli venture capital industry, JVP has been instrumental in building some of the largest companies out of Israel, facilitating 12 Initial Public Offerings on NASDAQ and numerous industry sales. With a view to building industry leaders, JVP invests in early through growth stage companies in the spaces of Cybersecurity, Big Data, Fintech, Enterprise Software, Storage, Mobile, Media and IoT. More information about JVP is available at www.jvpvc.com