Codefresh Completes $8M Series B funding
MOUNTAIN VIEW, CA, Codefresh has completed an $8M series B funding round led by M12.
Codefresh, the first Kubernetes-native Continuous Integration/Continuous Delivery (CI/CD) platform, completed an $8M series B funding round led by M12, Microsoft's venture fund, with participation by Viola Ventures, Hillsven and CEIF. Early investors include UpWest Labs and Streamlined Ventures, bringing the total investment in Codefresh to $15.1M.
Kubernetes adoption is skyrocketing, with nearly every enterprise working on adopting Kubernetes but struggling with the last mile because existing CI/CD tools are not designed for Kubernetes. By investing in Codefresh, M12 signals a strong interest in container orchestration and believes Codefresh has the ability to accelerate Kubernetes adoption.
"Codefresh is uniquely designed to help teams build automated pipelines to deliver their software on top of Kubernetes," said Mony Hassid, general manager and managing director of EMEA at M12. "We've invested in Codefresh because they have built innovative solutions that enable enterprises to successfully adopt Kubernetes."
Codefresh eases Kubernetes adoption and allows developers to automate their application deployment to Kubernetes in as little as 10 minutes. Once migrated, teams experience up to 24X faster development times.
"When we adopted Kubernetes we found that the old CI/CD tools didn't fit. By adopting Codefresh, we were able to get our entire team deploying to Kubernetes right away," said Anthony Johnson, CTO, GIPHY, a Codefresh customer.
According to Dan Kohn, executive director of the Cloud Native Computing Foundation (CNCF), "Codefresh has been a pioneer in advocating for robust CI/CD platforms for Kubernetes, and we look forward to continue working with them to grow the cloud-native ecosystem." 451 Research forecasts a container market of $2.7B by 2020, and Kubernetes' adoption has begun in over 80% of the enterprise container market, indicating an industry-wide resolve that efficient and scalable cloud-native application deployment is essential to business success.
"The meteoric rise of Kubernetes is happening so fast that most toolchains haven't kept up, and M12 knows it," said Raziel Tabib, Codefresh co-founder and CEO. "With this latest round of funding we're going to aggressively accelerate our roadmap and expand our customer base."
As the corporate venture arm for Microsoft, M12 typically invests in enterprise software companies in the Series A through C funding stage. As part of its value-add to portfolio companies, M12 offers unique access to strategic go-to-market resources and relationships globally. Visit m12.vc to learn more.
About Viola Ventures
Viola Ventures (formerly Carmel Ventures) is a venture capital firm, empowering early stage startups to become global leaders. Founded in 2000, Viola Ventures manages over $1B across five funds. Viola Ventures is the only Israel-based venture fund with six investing partners, solely dedicated to early-stage tech investments.
About Codefresh, Inc.
Founded in 2014, Codefresh is the first Kubernetes-native CI/CD. After GA in 2017, Codefresh has already gained over 20,000 users. Unlike legacy solutions, Codefresh pipelines are uniquely designed for cloud-native technologies like Kubernetes and Helm. Codefresh is headquartered in Mountain View, CA and backed by world-class investors: M12, Microsoft's venture fund, Viola Ventures, Hillsven, CEIF, UpWest Labs and Streamlined Ventures. Learn more about Codefresh at https://codefresh.io/. Follow on LinkedIn and Twitter at @codefresh.
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