This news comes on the heels of its $150M Series F round. CloudBees plans to use the funding to support product development and business growth. Here are the top-line bullets you need to know.
CloudBees, a software delivery platform for enterprises, has raised $150M in a Series F round that drew participation from Goldman Sachs Asset Management, HSBC Venture Capital, and Morgan Stanley, among others. The company has also secured $95M in debt financing from undisclosed investors.
HOW’S THE COMPANY PERFORMING?
- California-based CloudBees provides continuous delivery solutions to IT organizations to help them meet their security, scalability, and compliance requirements.
- The company offers enterprise continuous integration, enterprise release orchestration, and feature management products.
- Its software delivery platform is used by 67% of the Global 2000 software and tech companies, 57% of the Fortune 1000 software and tech companies, and 60% of the Fortune 100 financial services companies.
- CloudBees’ client base includes the United States Air Force, the Social Security Administration, American Express, HSBC, Capital One, the IRS, and BNP Paribas.
- The startup is supported by a team of over 500 employees, up 70% since June 2018.
- It maintains offices in 20 countries.
WHY DOES THE MARKET MATTER?
- The global continuous delivery market is expected to reach a value of $3.9B by 2023, growing at a CAGR of 18.5%, according to Markets and Markets.
- The increasing demand for app development and deployment automation is contributing to growth in this market.
- Enterprises seeking to improve the development workflow of remote workforces amid the pandemic are turning to continuous delivery solutions.