CircleCI Receives $56M in Series D Round
SAN FRANCISCO, CA, CircleCI, the leading platform for software innovation at scale, today announced it has successfully closed $56 million in Series D funding.
The new funding round was led by Owl Rock Capital Partners and NextEquity Partners, along with existing investors Scale Venture Partners, Top Tier Capital, Threshold Ventures (formerly DFJ), Baseline Ventures, Industry Ventures, Heavybit, and Harrison Metal Capital.
"Our accelerated pace of change over the last 18 months reflects our industry as a whole: software development is increasingly complex, fragmented, and difficult to map," said Jim Rose, Chief Executive Officer, CircleCI. "We're in a unique position to help engineering organizations write better software faster. Our product strategy combines an agnostic, build anything, anywhere roadmap with a focus on lifting business value delivery of software everywhere."
Prior to this round, CircleCI has raised $59 million since its founding in 2011, bringing total funding raised to $115.5 million. With the new funding, CircleCI will continue product expansion globally and will use the resources to deliver on their vision of becoming the de facto standard CI/CD platform of choice, regardless of toolchain.
"CircleCI's rapid growth and ability to bring real value to the developer tool space have been very impressive," says Pravin Vazirani, co-portfolio manager, Owl Rock Capital Partners. "There has been a lot of emphasis on growth opportunities in software, but not enough on how code goes from idea to delivery. CircleCI provides the main ingredient that empowers developers to spend their time doing what matters most and do it more quickly, more effectively, and at scale."
Since CircleCI's Series C funding in January 2018, the company has demonstrated strong market momentum including:
An increase in monthly job count from 7 million to more than 30 million each month.
The creation of more than 900 CircleCI orbs, which are products of CircleCI's Technology Partner Program, currently comprised of more than 45 solution provider partners.
The opening of their first international office in Tokyo, along with hubs in Boston and Denver.
Seventy-five new employees added in the first six months of 2019, with projections to have a total of 300 employees by the end of the year.
"Every company today relies on software to continuously improve its products and business in order to keep up with consumers' evolving needs and expectations," said Rob Zuber, Chief Technical Officer, CircleCI. "We believe humans should never have to wait on machines. This new round of funding will better allow us to provide developers flexibility and control to power their workflows seamlessly."
"When evaluating companies for investment, one quality I look for is how quickly a company can deliver value to the market," said Andy Vitus, partner, Scale Venture Partners. "Scale led CircleCI's Series B in 2016, and since then I've seen the company prove how effectively it improves developer throughput and velocity. We believe CircleCI is the DevOps standard for companies looking to accelerate their delivery pipeline while increasing quality."
CircleCI will use the Series D funding to further their extensibility and agnosticism capabilities, expand their global presence, and provide deeper insights for users to improve the health of their value delivery. To learn more click here.
CircleCI is the leading platform for software innovation at scale. With intelligent automation and delivery tools, CircleCI is used by the world's best engineering teams to radically reduce the time from idea to execution. Founded in 2011 and headquartered in downtown San Francisco with a global, remote workforce, CircleCI is venture-backed by Owl Rock Capital Partners, NextEquity Partners, Scale Venture Partners, Threshold Ventures (formerly DFJ), Baseline Ventures, Top Tier Capital, Industry Ventures, Heavybit and Harrison Metal Capital. Learn more at https://circleci.com
>> Click here for in-depth research on 9,000 startups and 5,000 VC investors
(c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about