CloudCheckr provides a complete cloud management platform, enabling enterprises and MSPs to manage cloud costs, optimize resources, and ensure security and compliance.
CloudCheckr’s CMx platform provides visibility and insights that lower costs, gives total control, and optimizes resources while maintaining security and compliance. Cloud service providers, resellers, public sector organizations, and direct customers rely on CloudCheckr to help manage and govern billions of dollars in spend for their complex and sensitive cloud environments.
Build Senior Management Team From the Ground Up
Prior to Level’s investment, CloudCheckr was bootstrapped by its founders and needed to build out an entire senior management team capable of scaling the company to exit.
Scale Global Go-To-Market
CloudCheckr had already built a product that addressed an acute customer pain point for cloud infrastructure cost containment. Our capital was used to professionalize and scale the go-to-market team to target this $20B+ market opportunity.
Develop MSP Customer and Partner Ecosystem
CloudCheckr provides MSPs and their customers with an outsized ROI, making MSPs among the company’s most valuable partners. By enhancing the product offering and go-to-market for MSPs, CloudCheckr was able to accelerate growth and improve customer retention.
Level hired an experienced management team including a CEO, CFO, CTO, SVP of Customer Success, and SVP of Marketing, all of whom were instrumental in transforming and scaling the business. This team recognized the unique opportunity in the MSP market and doubled down on the company’s efforts in this vertical.
CloudCheckr’s CFO rebuilt the company’s financial infrastructure and reporting, and secured a credit facility to provide additional non-dilutive growth capital. Over our hold period, the company expanded its product offering from AWS-only to include Microsoft Azure and Google Cloud, enabling support for multi-cloud environments. Level helped orchestrate an exit process that led to numerous competitive offers, resulting in a sale to a strategic acquirer, NetApp.
Level Equity Invests $50M In CloudCheckr
Level Equity invests $50M in a majority recapitalization and growth financing of CloudCheckr.
Brendan Dolan Joins CloudCheckr As CFO
Brendan joins as CFO after several successful exits as CFO of growth-stage software companies including BoardEffect, a former Level Equity investment.
Tim McKinnon Joins CloudCheckr as CEO and Raises $15M
After experiencing explosive growth over the previous 3 years, CloudCheckr hires Tim McKinnon to lead the business. He then raised $15M from current investors to accelerate growth. Tim had previously been the CEO of Sonian (acquired by Barracuda Networks).
CloudCheckr Secures Credit Facility From Sterling
CloudCheckr raises a $15M non-dilutive credit facility from Sterling National Bank to support continued growth.
CloudCheckr Is Acquired By NetApp
CloudCheckr is acquired by NetApp in an all-cash transacation.
“Level Equity was a fantastic partner for CloudCheckr. They were easy to work with, supportive and a great resource for the management team. They took the time to understand a complex business and were willing to invest into long-term initiatives. They were instrumental in helping us shape and pursue our vision. Their style is hands on, but not intrusive and extremely supportive.”