Coastal Cloud Announces Two Strategic Investors

Palm Coast-based Coastal Cloud announces strategic investments from Sverica Capital Management LP, a private equity investment firm and Salesforce Ventures.

PALM COAST, FL – June 13, 2020 – Palm Coast-based Coastal Cloud, one of the largest and fastest-growing independent Salesforce consulting partners in the United States, announces strategic investments from Sverica Capital Management LP, a private equity investment firm based in San Francisco, Calif. and Boston, Mass., and Salesforce Ventures, the global investment arm of Salesforce.

Retired from global consulting but still young, Sara and Tim Hale founded Coastal Cloud in Palm Coast in January 2013 to assist clients in planning and implementing cloud technology primarily based on Salesforce, the world’s leading cloud platform.

From the beginning, the company has been both client and employee-centric. Sara and Tim created a modern consulting firm focused on client outcomes and led by expert, onshore consultants who enjoy the flexibility of the company’s “live at the beach, work in the cloud” business model.

The company now serves over 700 clients and employs 210 nationally. Of 100 Florida-based team members, 50 are local. Coastal Cloud is focused on diversity as one of the largest woman-owned Salesforce consulting partners, with women making up over 40 percent of the Coastal Cloud team.

COASTAL CLOUD TEAM – ALL HANDS ON DECK MEETING 2019

Why is this investment in a locally grown company so important?

In the beginning, Sara and Tim joined a growing number of Salesforce partners in what is referred to as the Salesforce ecosystem. Then, and still, the cloud-based business solutions market is in the “early arrival” phase where many service providers have been rewarded with success. Still, Coastal Cloud manages to stand out.

• Recognized as a Salesforce Platinum Partner – one of the fastest companies to reach that level
• Rated by g2.com as the top Salesforce consulting partner
• Named to Inc’s “Best Workplaces” in 2020, making the Editor’s Top 10 List

Scores of fast-growing Salesforce consulting partners have been acquired by global consulting firms, many with exceptionally large offshore IT teams; Infosys, Cognizant, IBM, and Wipro, to name a few. Typically, the Salesforce units are absorbed into the acquiring companies, losing their individual identity, and diluting their culture.

Self-funded Coastal Cloud held out. Their new equity investors are high-visibility partners. There was no acquisition. The additional investment will allow Sara and Tim to take Coastal Cloud to new levels without sacrificing the company’s identity and will assure that Coastal Cloud remains Palm Coast-based. The continuing trend of acquisitions of competitors by large global companies only drives those Salesforce partners towards large global clients, leaving the middle market, Coastal Cloud’s sweet spot, alone.

“Tim and I are delighted to have Sverica and Salesforce Ventures join the Coastal family and accelerate our next generation of growth. We will double-down on our industry-specific solutions and multi-cloud capabilities to help our clients achieve new levels of scale, agility, efficiency, and service. The current crisis demonstrates the power of our business as our Care4COVID and CARES Act solutions have been conceived, built, and deployed to clients in a matter of weeks. This collaboration extends our unique culture, values, and relentless focus on exceptional client service. We are excited about the future with our team, our clients, and our partners”, said Sara Hale, Co-Founder and Managing Partner at Coastal Cloud.

“Cloud services have been a longtime focus for Sverica and now, more than ever, companies need to digitally transform the way they connect with their customers, employees, and partners. Coastal Cloud’s solutions not only enable their clients to succeed by deploying Salesforce’s leading technology stack, but they also provide core business processes and dashboard driven analytics to allow them to operate more efficiently and effectively. We are excited to partner with Tim, Sara, and the whole Coastal team to build upon their success and support their rapid growth,” said Jordan Richards, Managing Partner at Sverica.

Sherrick Murdoff, Vice President of Partner Investments at Salesforce, said “Coastal Cloud has been a longstanding and fast-growing partner of Salesforce and well-aligned with Salesforce values demonstrating a commitment to diversity in the workplace. The investment from Salesforce Ventures will help further their efforts within the Salesforce ecosystem and lead innovation for customers.”

Ryan Harstad, Partner at Sverica, added “Over the years we have gotten to know Sara and Tim, we have been increasingly impressed with the company that they have built. Their vision is apparent in Coastal’s rich culture, the quality of its team, and the client relationships cultivated over multiple years and projects. With a solid platform for continued growth and rising demand for the innovation and efficiency that Salesforce can offer, we see blue ocean ahead of Coastal Cloud.”