cloudThing Ltd.
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cloudThing Ltd. - overview
Established
2012
Location
Birmingham, -, UK
Primary Industry
Outsourcing
About
Based in the UK, cloudThing Ltd. specializes in digital solutions that enhance business efficiency and customer engagement through innovative software development and integration services. cloudThing Ltd. is a digital solutions provider founded in 2012 in Birmingham, UK.
The company was co-founded by Jay Neale and Nick Churchill-Evans. In May 2021, Kerv Group Ltd, a portfolio company of LDC, acquired cloudThing Ltd. to bolster its cloud and digital capabilities. Cloudthing specializes in delivering comprehensive digital solutions designed to enhance business efficiency and customer engagement.
Their core product offerings include cloud-based application development, data integration services, and bespoke software solutions tailored to meet the specific needs of various industries. These services aim to address critical use cases such as improving operational workflows, enabling data-driven decision-making, and enhancing customer experience through intuitive interfaces. Notable customers include enterprises across sectors like finance, retail, and healthcare, leveraging Cloudthing's expertise to modernize their digital infrastructure. The company's products are actively marketed in North America and Europe, catering to a diverse client base seeking innovative technology solutions that align with their strategic objectives.
In the most recent fiscal year 2023, cloudThing reported a revenue of USD 29. 42 mn and an EBITDA of USD 3. 39 mn. Revenue generation primarily occurs through a subscription-based model for its software solutions, combined with project-based fees for custom development services, ensuring a steady revenue stream while allowing scalability based on client needs.
With the acquisition by Kerv Group Ltd in May 2021, cloudThing is set to focus on expanding its market presence and enhancing its product offerings. The company aims to develop new digital solutions tailored to emerging market demands and is looking to penetrate additional markets in Europe and North America. The recent acquisition will enable Kerv Group Ltd to leverage cloudThing's capabilities to explore new vertical opportunities, further solidifying its position in the digital solutions landscape.
Current Investors
Kerv Group Ltd
Primary Industry
Outsourcing
Sub Industries
Offshore IT Services/IT Outsourcing, IT Infrastructure, Application Integration Software
Website
www.cloudthing.com
Verticals
Cloud Computing
Company Stage
Add-on
Total Amount Raised
Subscriber access only
cloudThing Ltd. - timeline of key events
cloudThing Ltd. - financials
| Fiscal Year Ended | Jan 31, 2018 | Jan 31, 2019 | Jan 31, 2020 | Jan 31, 2021 | Mar 31, 2022 | Mar 31, 2023 | Mar 31, 2024 | Mar 31, 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | - | - | 6,863,506 | - | 18,284,440 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | - | - | - | - | - |
| EBITDA (USD) | - | - | 1,384,972 | - | 276,759 | - | - | - |
| Operating Income (USD) | - | - | 1,347,027 | - | 212,615 | - | - | - |
| Operating Margin | - | - | 19.6% | - | 1.2% | - | - | - |
| % EBITDA Margin | - | - | 20.2% | - | 1.5% | - | - | - |
| NET Income (USD) | 1,247,242 | 47,556 | 1,563,852 | 125,201 | 69,773 | - | - | - |
| % Net Margin | - | - | 22.8% | - | 0.4% | - | - | - |
cloudThing Ltd. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | cloudThing Ltd. | - |
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cloudThing Ltd. - employee data
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