CloudShare acquired by Bow River Capital in estimated $60–80 million deal
Israeli SaaS company exits after a decade of bootstrapped growth and profitability.
CloudShare, an Israeli software company that quietly became a key provider of virtual training and cybersecurity labs to some of the world’s largest technology firms, has been acquired by Bow River Capital, a Denver-based private equity firm that manages $3.6 billion in assets.
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The terms of the deal were not disclosed, but sources familiar with the matter estimate the transaction to be worth between $60 million and $80 million. The sale marks the first significant liquidity event for CloudShare in more than a decade.
Founded nearly two decades ago by Israeli entrepreneur Dr. Zvi Guterman, CloudShare specializes in hands-on virtual labs used for technical training, product demos, cybersecurity simulations, and software testing. Its customer base includes heavyweights like Salesforce, Palo Alto Networks, Atlassian, and Motorola. Despite this roster, CloudShare has flown under the radar, largely because it has operated without external funding for the last decade.
That wasn't always the case. After raising capital in its early years, the company faced turbulence and investor fatigue. In 2014, Guterman bought out the early backers, choosing instead to bootstrap the business. Since then, CloudShare has remained quietly independent, expanding its customer base, turning profitable, and evolving its platform with AI-powered analytics and training tools—all without relying on venture capital.
The acquisition by Bow River Capital’s Software Growth Equity (SGE) division marks a new chapter for the Tel Aviv-headquartered company. Dr. Guterman will stay on as CEO, and the existing executive team will continue to lead day-to-day operations. A new board has been formed, with representation from Bow River, including SGE Vice Chairman John Raeder and Vice President Sean O’Connell, alongside SaaS industry veteran Ben Jubenville.
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The investment will help CloudShare expand internationally, enhance its infrastructure, and accelerate innovation in AI-guided training, Bow River said.
“We selected Bow River’s software investment team because of their stellar track record exponentially scaling SaaS businesses with a client-centric focus,” Guterman said in a statement. “I’m looking forward to the next chapter of strategic growth and innovation.”
The deal is Bow River’s sixth platform investment from its second growth equity fund. It fits a wider trend of private equity firms acquiring capital-efficient, profitable software companies that have grown without the fanfare or valuations of their VC-funded peers.
For CloudShare, the exit is a validation of a long game rarely played in Israeli tech. And for the broader SaaS landscape, it is another sign that bootstrapped companies with real customers and sustainable economics can still command respect—and significant exits.
