A US-based media experience platform has revealed its UK plans after achieving unicorn status.
Cloudinary is now valued at more than $1 billion – with zero outside investment – after hitting a $100 million milestone for annual recurring revenue.
Brands including Atlassian, Bleacher Report, Bombas, Grubhub, Hinge, NBC, Mediavine, Minted, Peloton and Petco use Cloudinary to achieve faster time-to-market, higher user satisfaction and increased engagement and conversions.
“To have reached this coveted financial milestone is a proud moment for all of us here at Cloudinary,” said Cloudinary co-founder and CEO Itai Lahan.
“In the visual economy, videos and images are no longer just important elements of our experiences online – they are the experience. We’re thrilled to be at the centre of this new era, helping our customers more easily create and deliver the kinds of experiences consumers deserve.”
Cloudinary’s UK operation, based in London, currently employs 60 people and is forecast to grow this year by about 30%. The office was established in June 2018.
“London is an ideal base because it is a major hub for the kind of innovative companies, agencies and brand creative teams that stand to benefit from Cloudinary’s tools for managing and optimising visual media,” a spokesperson told BusinessCloud.
“The UK also benefits from a highly skilled talent pool which has benefited Cloudinary immensely, adding to its rapid growth.”
The firm welcomed more than 1,000 new customers and 250,000 new users in 2021. It established and extended strategic partnerships with Getty Images, SAP and WordPress.