Cloud Based Service

4 Cloud Based Service Success Stories [2024]

Pat Walls

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Updated: October 10th, 2024

Business operations are increasingly digital, and cloud-based services are at the heart of this transformation. Essentially, a cloud-based service is about providing storage, processing power, or software via the internet, eliminating the need for physical infrastructure or in-person management.

Imagine offering solutions that help companies store their data securely, run applications seamlessly, or collaborate in real-time—without the need for heavy IT investments. Small businesses to large enterprises are in constant need of these scalable, efficient services.

The journey involves setting up robust cloud architecture, ensuring data security, and offering support to clients. This field is dynamic and growth-oriented, perfect for those who enjoy leveraging technology to solve real-world problems.

Setting the foundation for a cloud-based service business involves research, technical setup, and ongoing management, but the rewards can be substantial in both profitability and impact.

In this list, you'll find real-world cloud based service success stories and very profitable examples of starting a cloud based service that makes money.

1. 1 Core Solution ($3.6M/year)

Simon Ho founded 1Core Solution after struggling to find suitable childcare for his daughter with special medical needs, leveraging his PwC consulting experience and Silicon Valley's innovative environment. Today, 1Core serves diverse clients, including the U.S. Air Force and Navy, maintaining a 96% retention rate.

How much money it makes: $3.6M/year
How much did it cost to start: $150K
How many people on the team: 2

How I Built A $300K/Month Childcare Management Software

Discover how Simon Ho built 1Core Solution into a powerhouse in the childcare management industry, serving tens of thousands of military families worldwide, achieving a 96% retention rate, and navigating a unique reacquisition from KinderCare—all without ever seeking outside funding.

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2. OpsLyft ($420K/year)

Aayush, the Founder & CEO of OpsLyft, came up with the idea for his business while working as an Infrastructure and DevOps engineer at a startup. He saw the immense costs incurred by the company on cloud services and the struggle to account for those costs. He built a solution that saved the company close to a million dollars and realized that this problem was industry-wide, leading him to start OpsLyft.

How much money it makes: $420K/year
How many people on the team: 25

How This Solo Founder Bootstrapped A $20K/Month Cloud Management App

OpsLyft is a two-year-old high-growth startup built out of India and managing over $100 million of cloud investments each year, offering help to enterprise software companies globally to manage their cloud infrastructure costs without compromising the performance and reliability of applications running on it.

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3. EspoCRM ($360K/year)

Oleksii Avramenko, one of the founders of EspoCRM, noticed a gap in the market for a universal and affordable CRM solution for small and mid-size businesses. With previous experience in the CRM industry, Avramenko and his team created EspoCRM, which has since seen significant success with an average of over 16,000 downloads per year and earning up to $30k a month. Through their innovative approach and dedication to customer satisfaction, EspoCRM has become a go-to CRM application for businesses looking to improve efficiency and performance.

How much money it makes: $360K/year
How much did it cost to start: $10K
How many people on the team: 1

How We Developed A $30K/Month Open Source CRM

EspoCRM, an open-source CRM application for small and mid-size businesses, has seen an average of over 16,000 downloads per year and makes up to $30k per month, offering efficient tools to systematize customer data, improve sales cycles, and automate routine administrative tasks.

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4. VComply ($300K/year)

Harshvardhan Kariwala, the CEO and Founder of VComply, came up with the idea for his business after experiencing compliance issues in his previous startup. He realized the need for a tool that could track and manage governance, risk, and compliance workflows, leading him to develop VComply as an internal tool. After accidentally attracting the interest of the City of Boston, Harshvardhan recognized the potential of his product and decided to launch it as a business. Since then, VComply has received funding and has been steadily growing, with plans to expand further in the future.

How much money it makes: $300K/year
How many people on the team: 40

This Solo Founder Turned An Internal GRC Tool Into A $300K/Year Business

VComply CEO and Founder Harshvardhan Kariwala turned an internal governance, risk, and compliance (GRC) tool into a successful business, raising seed and Series A rounds of $2.5M and $6M, respectively, and projecting expansion into Australia, New Zealand, and Europe in 2022.

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Read by 4,729 founders