Blackstone investment helps Cloudinary to $2bn valuation

Blackstone‘s growth arm has helped online visual media business Cloudinary to a $2bn valuation through a new investment round.

The deal comes just a couple of months after Cloudinary reached $100m in annual recurring revenue.

Blackstone has invested more than $100m in the business, and committed to supporting the company’s future business expansion, including M&A.

Get the week’s top news delivered directly to your inbox – Sign up for our newsletter

Cloudinary recently acquired Indivio, a video software company that aims to help marketing teams unlock the potential of the fast-growing video market by delivering hyper-personalized videos at scale, customized in real-time for each target audience.

The company, which aims to help developers, creators and marketers manage, transform, and deliver images and videos online, has 60 billion assets under management and nearly 10,000 customers worldwide.

Blackstone Growth managing director Ramzi Ramsay said, “Remarkably, and somewhat quietly behind the scenes, Cloudinary powers the websites and apps that millions engage with every day.

“We are very excited to support the next phase of growth for this tremendous company which is playing a critical role as more and more businesses emphasize digital media and their online experiences.”

Blackstone was reportedly eyeing up to $10bn last November for one of the largest growth capital funds ever raised.

The move, which was reported by Bloomberg, came just a few months after the firm pulled in $4.5bn to close its debut fund in the strategy – the largest first-time growth equity private fundraise in history.

Source: Altassets

Can’t stop reading? Read more