CloudBees DevOps suite recieves $62M in growth funding
|Christian Hargrave in DevOps Monday, July 2, 2018|
CloudBees DevOps company receives $68M in growth funding to innovate upon their continuous delivery platform.
CloudBees announced it has successfully closed $62 million in growth funding. The funding round was made up of $37 million of equity led by Delta-v Capital and $25 million of growth financing from Golub Capital’s Late Stage Lending business. The new equity financing included strong participation from existing investors Matrix Partners, Lightspeed Ventures and Verizon Ventures, alongside new investors Delta-v Capital, Golub Capital and Unusual Ventures. CloudBees has previously raised $49.2 million since its founding in 2010, bringing total funding to date over $100 million. With the new funding, CloudBees will continue to innovate its modern software delivery suite, grow its strategic partnerships and accelerate its global business growth organically and through M&A.
“Today, virtually every company is using software to continuously improve its products and business,” said Matt Parson, chief financial officer, CloudBees. “The DevOps market is exploding as the transformation to a global continuous economy emerges. We have seen significant growth in our business over the last several years, but we now see an even bigger opportunity just in front of us as continuous software delivery becomes a strategic imperative for every business.”
The $3.58 billion DevOps industry is at an inflection point. Legacy and point solutions are unable to meet this growing demand with the governance, scale and flexibility required by enterprises of all sizes. CloudBees says that they want to take a different approach to solving this problem by creating an end-to-end continuous software delivery system.
“In the few, short years since founding CloudBees, we have become the recognized DevOps leader. Global enterprises have rapidly adopted our DevOps suite due to its alignment with strategic business objectives and the enterprise-grade scale and governance demanded by today’s CIOs,” said Sacha Labourey, founder and CEO, CloudBees. “We see a world where businesses either deliver faster and continually improve or they fail. Thanks to this new funding, we are accelerating on our vision to become the ERP of IT and orchestrate the key processes that bring innovation through software to production.”