Cloud Office, one of the fastest growing Google Cloud Partners in Central and Eastern Europe (CEE), has announced that it has received an investment of 2 million euros from Eleven Venturesone of the leading venture capital funds for startups operating in the region. The result of the investment will be the strengthening of Cloud Office’s presence in the Greek market, through the establishment of a local office and a local team that will cover the growing demand for specialized AI and Cloud solutions and services.

As stated in the announcement, although Cloud Office already has a strong clientele of Greek businesses, this particular partnership was also sealed in a symbolic way during the Google Cloud Day Athensheld on November 21. Thus, the participants were able to get to know Cloud Office products and services up close.

The cloud services market is experiencing rapid growth, fueled by accelerating automation and the proliferation of AI. This fact puts businesses, especially in Central and Eastern Europe, in front of the challenge of choosing and implementing the right cloud solutions from a huge range of options. Cloud Office supports businesses to accelerate the digitization of processes to increase revenue, control costs, and stay competitive.

OR Cloud Office company was founded in 2019 by Dimitar Pavlov, later joined by Chavdar Trendafilov, Dimitar Chakarov, Ivo Zimbilev, Georgi Gocev and Ivan Dobrinov. It has quickly grown into a key player in the cloud services market – a success rooted in the founding team’s deep and versatile expertise. All major parts of the business – from systems architecture to implementation, sales and operational structure, are under the direction of the founders. This ensures clear focus, quality and an unmatched pace of project delivery. Cloud Office’s specialty is complex projects for demanding clients and critical processes – issues that require a high level of technical innovation as well as disciplined execution.

“I vividly remember one of our first Google Workspace migration projects, for a small accounting firm with 2 employeess,” said Dimitar Pavlov, founder of Cloud Office. “We spent a whole day on migration, training and explaining various use cases. Even though our monthly income was only 5 euros, we had won a very happy customer. We have maintained this customer-centric culture regardless of the size of our customers, making us today the most recognized and preferred Google Cloud partner in EMEA. It is typical that throughout this time, the most frequent way of acquiring new customers is through direct referrals“, he added.

Headquartered in Bulgaria with subsidiaries in London and Athens, Cloud Office serves more than 650 customers across the EMEA region with a team of over 60 engineers. Cloud Office’s rapid growth and expertise was recognized with the Google Cloud Partner of the Year 2024 award in the “Expansion” category – an achievement that highlights its commitment to excellent project implementation and maintaining the highest net promoter score in the industry. The €2 million investment will be used to:

  • The creation of a local office and team in Greece, led by Konstantinos Kalogerakis as Country Head.
  • The support of existing partnerships that include among others one of the most important Greek media groups, one of the most notable and largest purely digital companies, the largest domestic retailer, as well as the development of new ties in the Greek market.
  • Strengthening the presence of Google Cloud in Greece, with Cloud Office being its first award-winning regional partner with a local presence.

“Although I knew one of the founders of Cloud Office, I had not appreciated the prospects and huge potential of the business until we started discussing the investment,” said Eleven’s Svetlozar Georgiev. “Their business model includes a recurring revenue stream from the resale of Google and JumpCloud products, combined with a service stream that has a high profit margin. Both of these elements reinforce each other, creating an effective combination. We were also impressed by their deep AI expertise, demonstrated through the highly advanced projects they have implemented for regional market leaders».

THE Ivo Zimbilev, co-founder of Cloud Officeadded:

“As our business continues to grow exponentially in a highly competitive market, we have faced unique challenges. This investment unlocks opportunities that were previously either inaccessible or of limited scale. The biggest advantage, however – and perhaps the most difficult to measure – is the value of having experienced partners on our side. With Eleven’s support, I am excited about the future as our teams in Greece, Bulgaria and the UK expand, helping our customers meet the challenges of this new world. This partnership marks a significant leap forward in our mission to become the leading Google Cloud partner in EMEA».