CloudBees, the Jenkins-based devops platform that recently acquired Codeship, today announced that it has raised a $62 million funding round. The round consists of a traditional $37 million equity round led by Delta-v Capital and $25 million of growth financing from Golub Capital’s Late Stage Lending. Existing investors, including Matrix Partners, Lightspeed Ventures, Unusual Ventures and Verizon Ventures, also participated.
With this round, CloudBees has now raised a total of over $100 million since it was founded back in 2010. In a fast-growing and competitive business like devops, that’s the kind of funding you need to be able to buy up smaller players and expand quickly to gain the kind of market share you need to compete with the other large players in this business.
“Today, virtually every company is using software to continuously improve its products and business,” said Matt Parson, CloudBees’ chief financial officer. “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.”
CloudBees’ customers currently include 46 of the Fortune 100 enterprises and three of the Fortune 10.
The open source Jenkins automation server forms the core of CloudBees’ product lineup (and it also offers training and certification for Jenkins). Like similar open-source companies, CloudBees then extends Jenkins with additional enterprise features and bundles them into its various offerings. With the recently acquired CodeShip, it now also offers an additional continuous integration and delivery platform that it can offer as a hosted service that isn’t so closely tied to Jenkins.