An all-in-one digital business solution has raised more than £800,000 on Crowdcube.
London-based Cloudworkz is a B2B subscription-based platform that provides SMEs with in-demand human capital, digital marketing and business services.
Having developed the tech, gone to market and built go-to-market functionality, Cloudworkz is now raising to scale up.
A total of 182 investors raised £839,117 to fund expansion plans – almost £300,000 beyond target – for 2.77% equity in the business at a £30 million pre-money valuation.
Executive chairman Ian Wolter, an experienced chair and non-exec director, said Cloudworkz has the potential to become valued at more than $1 billion.
Wolter spent more than two decades in CEO and board roles at recruitment companies including Eden Brown Built Environment.
“In my career so far, I’ve achieved three successful exits with a total combined value of over £130 million,” he said. “The last two of these were technology-led platform businesses.
“The reason I’m more excited about Cloudworkz than any of these previous businesses is because it’s eminently scalable. It has plans to be a global business and has real potential to be a unicorn.”
The company says SMEs increasingly rely on their digital presence to be found by customers and grow. Its solution is designed to meet the needs of these businesses through fractional purchasing.
It provides fully-managed and self-managed digital products and services across sales, marketing, creative, content, IT, digital skills, remote work assessments and outstaffing.
“We have concluded field sales pilots & entered the scaleup stage,” it said. “To date, we have a compounded average monthly client acquisition growth rate of 57% with 100+ paying clients.
“The funds raised will allow us to expand sales & develop the customer service function.”