Philippine tech startup CloudSwyft raises $200k from Future Now Ventures

Philippine tech startup CloudSwyft Global Systems has raised $200,000 (P9.2 million) in seed funding from venture capital Future Now Ventures.

CloudSwyft founder and CEO Dann Angelo De Guzman said Future Now Ventures founder and CEO John Orrock is the principal investor.

De Guzman said the VC investment is a significant amount to further build and market the company in the enterprise business-to-business (B2B) space.

The 26-year-old technoprenuer said CloudSwyft’s vision is to change the way people learn and prove technology skills in the IT industry, by delivering a SaaS (Software-as-a-Service) solution which provides IT-Labs-as-a-Service for IT skills assessments and capability development (training). CloudSwyft offers the platform without the need to purchase and manually set up hardware and software tools.

“We are lucky to be a Startup Investee of Future Now Ventures, seriously,” De Guzman said. “As a tech startup targeting the Enterprise (B2B) space, we intended to be just laser-focused on execution. Unfortunately, we think that there is already a lot of noise in the startup scene, so we just really decided to focus on silently getting traction and creating more customers while we also iterate our product.”

Also Read: Philippines’ startup ecosystem faces several barriers, yet to take off: John Orrock, Future Now Ventures

De Guzman and his team were glad to be backed up by Orrock who has a proven track record of success in the Enterprise SaaS and cloud space. Orrock has created companies such as Okere LLC and Cloud Sherpas that were later acquired by Fujitsu and Accenture, respectively.

“This definitely reflects a great fit for CloudSwyft which targets the same industry,” De Guzman said, who used to be a tech employee at Accenture.

Founded last April 2015, CloudSwyft has so far created its CloudSwyft Suite, currently composed of two products, namely the Tech Assessment Platform and Tech Training Platform.

The technology group of the company is led by its chief technology officer (CTO) Ellard Capiral, who is an ex-Trend Micro Software Architect. CloudSwyft is currently a team of nine people, including its interns.

Also read: Exclusive: Philippine VC Future Now Ventures invests in IoT startup Reekoh

In a span of less than 12 months, CloudSwyft was able to work with some major global companies like Microsoft, Fujitsu, Cloud Sherpas (now part of Accenture), among others.

“As 2016 kicked off, we started working very closely with Microsoft, given that we’re also one of their BizSpark startup partners. We have initially got presence from both the Philippines and Hong Kong,” De Guzman said.

He noted the training and recruitment market is a mature industry and the company sees its solution entering not just the hyper-local market, but also the global scene.

“There are no key players in this space yet, so it is a tremendous opportunity for us to execute on our aim to be the status-quo in this industry,” De Guzman said. “Indeed we are excited to continue our focus on improving our product, building our sales team and in acquiring more customers. This market is just so huge, and we’re just getting started.”

Also read:

Philippine govt launches first global ICT biz incubator hub

PH startup FlySpaces raises $500k from Coent Venture, others; launches in Singapore

Accenture acquires former PH startup Cloud Sherpas

Philippines: Narra Venture Capital targets fintech, edtech & healthtech startups

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.