TAMPA, Fla.--(BUSINESS WIRE)--Global cloud-only digital transformation company Blue.cloud, announced that it has received a majority equity investment at an enterprise value exceeding $100 million from Hudson Hill Capital (“HHC”).
In 2021, Blue.cloud scaled to a run-rate surpassing $39 million, reflecting 185% growth YoY with a 30% revenue increase from Q3 2021 to Q4 2021. The demand for digital transformation and specifically, cloud data and analytics fueled their growth. Large enterprises now recognize cloud data and analytics tools as a significant competitive advantage that promotes enterprise scalability. Blue.cloud employs approximately 320 people across US, India and Turkey that specialize in data and analytics, cloud operation, and other digital transformation services. Key clients contributing to rapid growth include Fortune 500 enterprises within the financial services, insurance and logistics industries. Additionally, Blue.cloud has cultivated partnerships with leading cloud data providers such as Snowflake, ThoughtSpot, and DataRobot.
“As enterprise cloud adoption reaches record highs, strategic support from our partners enables us to accelerate technology solutions that help our clients simplify and scale through digital transformation,” said Kerem Koca, co-Founder and co-CEO of Blue.cloud. “We are well-positioned to become a global leader in cloud solutions and HHC’s investment in this shared vision speaks volumes to the quality of both the team and technology we have built. Our partnership with HHC represents a significant growth milestone for Blue.cloud.”
The growth investment in Blue.cloud will enable the company to focus heavily on expanding AI capabilities, executing acquisitions, and continuing to build a world-class team of IT leaders across all business practices. Collaborating with industry leading software partners will allow Blue.cloud to deliver on the demand the company is already experiencing from clients seeking access to new technologies that bolster their competitiveness.
“We chose to partner with Hudson Hill Capital for their experience with rapidly growing middle-market technology companies and are thrilled with the transaction outcome after several months of building the relationship,” commented Blue.cloud Chief Financial Officer, Brian Alvarez. “This partnership will align a strong team and we will be working together to achieve an annual revenue run-rate of $80 million by the end of 2022. We look forward to partnering with HHC to expand our leadership team that will diversify our capabilities, enabling us to sprint into another year of exponential growth.”
Blue.cloud specializes in implementing modern cloud data technologies and analytics to transform how enterprises operate and compete in the marketplace. The company’s defining differentiators include its next-generation technologies and senior IT talent composed of former Deloitte, Oracle and Cognizant leaders. Blue.cloud takes a data-driven approach to digital transformation and consulting services. Core services include digital and cloud transformation strategy, digital architecture, digital & cloud roadmap creation, back and front-end data warehousing support, data lake creation, advanced analytics, data science including AI & machine learning (“ML”) and data quality/governance.
"Kerem and Praveen have addressed a unique need in the digital transformation space and HHC is excited to partner with them during the company's next phase of growth,” said Eric Rosen, Managing Partner of Hudson Hill Capital. “Cloud adoption is the new reality for organizations to remain agile and maintain competitive positioning in the new world of remote work, distributed teams, and increased customer expectations. Blue.cloud’s proven ability to integrate an impressive list of next-generation technology partners into very large enterprises, combined with their track record of attracting and retaining experienced IT talent leads to their success in this market – as evidenced by their impressive growth rate in 2021.”
Lincoln International acted as the exclusive investment banking representative for Blue.cloud, working closely with the company’s shareholders and management team throughout the transaction process.
For more information or press inquiries, please contact Justine D’Addio at justine@hydeparkpr.com.
About Blue.cloud
Blue.cloud is a cloud-only digital transformation company that specializes in implementing leading cloud technologies and solutions for clients. Blue.cloud provides digital strategy, data engineering and analytics, digital services and cloud operation services to companies ranging from Fortune 500 enterprises to mid-market companies and startups. It has deep technology skills that enable key business processes and works across industries to deliver cloud transformation solutions that impact growth and differentiated customer experience for clients. Blue.cloud is the evolution of Bluenet, which was founded in 2004 in the data and analytics space. The company is headquartered in Tampa Bay, FL. For more information, visit www.blue.cloud.
About Hudson Hill Capital:
Based in New York, HHC (www.hudsonhillcapital.com) is a private investment firm founded by Eric Rosen, Jason Palmatary, and Alexander Stacy. Departing from the prevailing short-term orientation of the private equity industry, HHC invests with families, entrepreneurs, and management teams who are attracted to patient, long-term capital partners. Hudson Hill invests its own capital alongside like-minded partners in attractive growth-oriented opportunities in industries benefiting from long-term secular growth tailwinds. HHC's industry focus includes the business services, software, and financial services sectors.
