GitLab Raises $268M to Expand its Main DevOps Platform to Security, Monitoring, and More – GlobeNewswire
BROOKLYN, N.Y., Sept. 17, 2019 (GLOBE NEWSWIRE) -- GitLab Commit - Today GitLab, the DevOps platform delivered as a single application, announced it has completed a $268 million Series E round of funding valuing GitLab at $2.75 billion. This recent funding round was led by ICONIQ Capital and Goldman Sachs with participation from existing investor Y…

BROOKLYN, N.Y., Sept. 17, 2019 (GLOBE NEWSWIRE) — GitLab Commit – At present time GitLab, the DevOps platform delivered as a single utility, announced it has done a $268 million Sequence E spherical of funding valuing GitLab at $2.75 billion. This most contemporary funding spherical became led by ICONIQ Capital and Goldman Sachs with participation from present investor Y Combinator Continuity Fund. The spherical additionally incorporated new merchants Adage Capital Management, L.P, Alkeon Capital, Altimeter Capital, Coatue, D1 Capital Partners LP, Franklin Templeton, Light Avenue Capital, Tiger World Management, Two Sigma Ventures.

“To be competitive this day, firms must be 10x sooner to market. We made an early wager that enterprises would cash in on a single utility skills for DevOps groups to recede up getting software program products to market sooner and more securely,” mentioned Sid Sijbrandij, CEO at GitLab. “I esteem listening to how our clients are innovating sooner with a single DevOps utility that allows Dev, Ops and Security to collaborate, and this funding will motivate more organizations skills the benefits of this unified DevOps skills.”

With plans to head public next one year, GitLab is using the Sequence E funding to additional accumulate its platform, adding key facets in areas fancy monitoring, planning and security. In the previous one year, GitLab has more than doubled its employee count to bolster the over 100,000 organizations that expend GitLab; in conjunction with Seek facts from Media Group, Structure Communication, Delta Air Traces, Goldman Sachs, Ticketmaster, Nvidia, and many more. Several GitLab clients will be speaking this day about their outcomes with the DevOps platform at the company’s inaugural user convention GitLab Commit in Brooklyn. Fleshy speaker schedule. In October, GitLab Commit will head to London where customers will hear from EMEA-basically based mostly clients.

“GitLab’s ARR command price of 143% is an instantaneous reflection of the certain industry outcomes realized by our clients as they recede to GitLab’s single utility resolution,” mentioned Michael McBride, Chief Revenue Officer at GitLab. “We’ve seen the industry prepare our lead, as our clients dramatically amplify the effectivity of their DevOps workflows and carry their products to market worthy sooner. This funding will recede up birth of the beefy imaginative and prescient and product scope of GitLab’s whole DevOps platform and carry even more mark to our clients.”

GitLab will additionally expend the funding to continue to be succesful to add crew participants to contend with product, advertising and marketing, sales, and administrative choices to bolster GitLab’s overall way of unifying groups and serving to organizations recede up better software program products to market sooner and more securely.

GitLab has raised $426M to this point.

GitLab Scamper

GitLab has grown from fewer than 10 of us in 2015 to more than 800 crew participants in over fifty five worldwide locations all the way in which thru the globe. There are at the 2nd 222 open job opportunities to continue this worldwide command.

GitLab recently positioned thirty 2nd on the 2019 Forbes Cloud 100 Checklist and became awarded the Inc. Most efficient Areas to Work award for commitment to an all-a long way flung personnel. In July, Sue Bostrom, earlier executive vice chairman and chief advertising and marketing officer at Cisco Systems, and David Hornik, general partner of August Capital, were appointed to the GitLab Board of Directors to arrangement steering because the company continues to develop.

Over the final three quarters, GitLab has supported over 100 meetups with 5,500 meetup participants all the way in which thru 20 worldwide locations. GitLab has more than four,800 filled with life contributors and receives a median of A hundred and eighty improvements to each and every monthly originate. Developer engagement continues to develop, and in March alone, GitLab infamous 1 million merge requests on GitLab.com.

Supporting Quotes

“We are incredibly excited to co-lead GitLab’s Sequence E funding spherical,” mentioned James Hayward from Goldman Sachs’ Provider provider Banking Division. “Following our initial investment in 2018, now we contain witnessed first-hand the increased construction recede all the way in which thru our Engineering Division. We’ve been thoroughly impressed with GitLabs’ command and buyer attain and thought forward to supporting the company as it goes from energy to energy.”

“By building facets for every and every stage of the DevOps lifecycle real into a single utility, GitLab is fixing a significant need out there and their industry continues to develop snappily,” mentioned Matthew Jacobson, General Accomplice at ICONIQ Capital. “We mediate the company is exceptionally smartly-positioned to improve the work of 1000’s and 1000’s of builders and wait on the means they set aside gargantuan products.”

“GitLab provides us with a really stable, scalable, contemporary resolution,” mentioned Kevin Tale, SCM manager, Nvidia. “As a result of GitLab’s Excessive Availability facets, now we contain uptime advance 100% and may per chance now extinguish are living upgrades with zero downtime customarily. The flexibility to scale backend sources (servers) transparently to our customers is a giant profit. Now we can contend with a gargantuan quantity of customers and projects, both of which continue to develop like a flash. Geo clusters enable us to arrangement significant performance benefits to customers in a long way flung locations of work since they’ll accumulate records within the community as an different of all the way in which thru a WAN from all over the realm. A diversity of newest facets and integrations with rather a pair of tools enable rather a pair of groups to adopt what works for them, customarily with out requiring help, which very much reduces the strengthen load for our GitLab crew.”

Live Broadcast

GitLab will appear on DevOps.com to focus on about their plans now that they’ve raised Sequence E funding throughout a are living GitLab Commit Brooklyn broadcast on September 17, 2019 at Eight:45am PST / Eleven:45am ET / three:45pm UTC. Please tune in here.

About GitLab

GitLab is a DevOps platform built from the bottom up as a single utility for all phases of the DevOps lifecycle enabling Product, Personal, Pattern, QA, Security, and Operations groups to work concurrently on the same project. GitLab provides groups a single records retailer, one user interface, and one permission mannequin all the way in which thru the DevOps lifecycle, allowing groups to collaborate and work on a project from a single dialog, very much decreasing cycle time and focal point completely on building gargantuan software program like a flash. Built on open source, GitLab leverages the neighborhood contributions of 1000’s of builders and 1000’s and 1000’s of customers to persistently carry new DevOps innovations. Bigger than 100,000 organizations from startups to global mission organizations, in conjunction with Ticketmaster, Jaguar Land Rover, NASDAQ, Dish Network, and Comcast have confidence GitLab to carry gargantuan software program at new speeds.

Media Contact

Natasha Woods

GitLab

nwoods@gitlab.com 

(415) 312-5289