# CloudPractice Pty.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cloudpractice-pty

- Industry: Software
- Headquarters: Sydney, Australia
- Website: www.practifi.com
- Total disclosed funding: $15M
- Latest round: Series B (May 25, 2023)
- Investors on record: 6

## About

CloudPractice Pty. Ltd. specializes in providing a customer relationship management (CRM) platform tailored for wealth management professionals, focusing on enhancing client interactions and operational efficiency.Founded in 2013 and headquartered in Sydney, Australia, CloudPractice Pty. Ltd. delivers a CRM solution designed for wealth management. The company has successfully completed 7 funding deals, with the latest Series B round occurring on May 25, 2023, where it raised AUD 3.074 million from investors EVP and Praustralia Blocker Corp. The firm is led by CEO Adrian Johnstone, while Glenn Elliott is recognized as the founder.Practifi offers a comprehensive customer relationship management (CRM) platform specifically designed for wealth management professionals. Its main product integrates tools for managing client interactions, automating processes, and providing robust reporting capabilities, enhancing the advisor-client relationship. Key functionalities include automated management of client data, meetings, and communications, along with a customizable mobile application for advisors. Practifi's platform serves a diverse client base, including financial advisors and wealth management firms primarily in North America, Europe, and Australia, optimizing their operational workflows and client engagement strategies.Practifi generates revenue through a subscription-based model, where clients, including wealth management firms and financial advisors, pay recurring fees for access to its CRM platform and associated services. This model allows for scalable pricing structures based on the number of users and specific features chosen by clients, with transaction structures typically involving annual or monthly subscriptions. Practifi’s flagship product facilitates direct engagement between the company and its clients, enabling financial professionals to effectively manage their relationships.In May 2023, CloudPractice Pty. Ltd. raised AUD 3.074 million in Series B funding to further its growth initiatives. The company aims to enhance its CRM platform with new product features and functionalities, although specific details on new product launches have not been disclosed. Additionally, Practifi plans to expand into new geographic markets beyond its current presence in North America, Europe, and Australia, although targeted regions for this expansion have not been specified. The funding will be utilized to support these product developments and market expansion efforts.

## Funding rounds

- Series B, May 25, 2023, $2M — EVP, Praustralia Blocker Corp.
- Series B, Dec 20, 2019, $10M — Updata Partners, EVP, Haintz Super Pty Ltd, Praustralia Blocker Corp.
- Series A, May 3, 2019, $1.6M — EVP, Certane, Haintz Super Pty Ltd
- Series A, Jul 3, 2018, $1.6M — Salesforce Ventures, EVP

## Investors

- Salesforce Ventures (https://capitalatlas.ai/funds/salesforce-ventures) — Series A
- EVP (https://capitalatlas.ai/funds/evp) — Series A, Series B
- Certane — Series A
- Haintz Super Pty Ltd — Series A, Series B
- Updata Partners (https://capitalatlas.ai/funds/updata-partners) — Series B
- Praustralia Blocker Corp. — Series B