Also participating in the round were Cota Capital, Long Light Capital, Green Visor, and Epic Ventures. Combined with $2.25 million raised by Cloud Lending Solutions during a pre-series A round last year, the company’s total capital stands at more than $10 million.
Cloud Lending Solutions CEO Snehal Fulzele demonstrated CL Exchange at FinovateSpring 2015 in San Jose, California.
In a statement, Cloud Lending Solutions CEO Snehal Fulzele said the new funding would help the company expand to new markets such as commercial real estate and SMB lending. “(These) are trillion-dollar industries ripe for disruption,” Fulzele said. Read more of his thoughts on the investment, and Cloud Lending Solutions’ place in the industry, in his Wednesday blog post, “An $8 Million Stake in an $800 Billion Market.”
Cloud Lending Solutions provides end-to-end lending solutions that are native to Salesforce. Able to bring its customers to market in as little as 90 days, Cloud Lending Solutions has more than 75 customers in 20-plus countries. This includes fellow Finovate alums such as Dealstruck, whose CEO Ethan Senturia referred to Cloud Lending Solutions as the “technology partner to make our vision a reality.”
Founded in 2012 and headquartered in San Mateo, California, Cloud Lending Solutions demonstrated its CL Exchange technology at FinovateSpring 2015 in San Jose.