NEW YORK | CHICAGO | SAN MATEO | October 27, 2020 – Cloudbakers, a Google Cloud Premier Partner, announced the completion of a significant growth capital investment from Sunstone Partners, a growth-oriented private equity firm specializing in technology-enabled cloud services. This capital will allow Cloudbakers to accelerate their growth in cloud-native services with a strong focus on growing their Google Cloud Platform technical consulting and managed services business.
Drake Star Partners acted as exclusive financial advisor to Cloudbakers and its shareholders on this transaction.
Cloudbakers was founded in Chicago, IL in 2010 and has experienced strong organic growth over the past decade while transforming hundreds of organizations with cloud-based data, application, and infrastructure modernization offerings. Cloudbakers’ blend of technical skills and people skills helps clients adapt to the ever-changing digital landscape, modernize their applications, and do so in a practical, cost effective manner. Cloudbakers “brings the cloud down to earth” for their clients.
“Drake Star’s expertise in the public cloud services market was critical in finding the right partner for Cloudbakers going forward”, said Mitch Greenwald, Cloudbakers Founder and CEO. “The insight and support from Jeff Baker and his team throughout the process helped us successfully navigate through a defining milestone in the Company’s history.”
Jeff Baker, Managing Partner at Drake Star Partners, said: “It was a pleasure partnering with Mitch and the Cloudbakers team on achieving this outcome. Together with Sunstone they are well positioned to accelerate their growth and be a leader in the public cloud services market.”
“We continue to see a tremendous shift underway as organizations move from legacy IT systems to take advantage of the benefits of public cloud” he continued. “This is our third public cloud transaction this year and we expect a high rate of investment in the segment to continue.”
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Managing Partner | CEO | Drake Star
Cloudbakers is a Google Cloud & Zoho Premier Partner that has been helping organizations successfully migrate to cloud technologies for nearly a decade. Being one of only a few Google Cloud Premier Partners, their mix of 50% tech skills and 50% people skills means they bring together custom solutions and side-by-side support. Adopting and adapting to changing technology is a difference maker for any business – that’s what Cloudbakers is here to help with. They bring the cloud down to earth.
For more information, please visit www.cloudbakers.com
About Sunstone Partners
Sunstone Partners is a growth-oriented equity firm that makes majority and minority investments in technology-enabled services and software businesses. The firm seeks to partner with exceptional management teams, often as their first institutional capital partner, to help accelerate organic growth and fund acquisitions. Founded in 2015, the firm has $800 million of committed capital to its first two funds.
For more information, please visit www.sunstonepartners.com
Drake Star Partners is a global investment banking firm serving the technology, media and communications sectors (TMC) with offices in New York, London, Paris, Munich, San Francisco, Los Angeles, Berlin, Geneva, Singapore* and Dubai*. The firm focuses on M&A and corporate finance for its clients worldwide. Drake Star Partners completed over 400 transactions since 2004, 70% of which are cross-border.
Drake Star Partners is the marketing name for the global investment bank Drake Star Partners Limited and its subsidiaries and affiliates. In the USA, all securities are transacted through Drake Star Securities LLC. In the USA, Drake Star Securities LLC is regulated by FINRA and is a member of SIPC. Drake Star UK Limited (FRN 942020) is an appointed representative of Kession Capital Ltd (FRN582160) which is authorised and regulated by the Financial Conduct Authority. © 2016 Drake Star Partners Limited.