The term Cloud VPN describes a type of Virtual Private Network that leverages a Cloud platform to realize a private virtual connection between hosts instead of dedicated, on-premises servers and gateways for OpenVPN and the like. This way you can give a global VPN access to users by means of a cloud platform that can be reached anywhere with an Internet connection.
This kind of service is also known as Hosted VPN and VPN as a Service (VPNaaS).