CloudBees announced it has closed a $ 150 million Series F round of funding at a pre-cash valuation of $ 1 billion. The company also closed a $ 95 million credit facility to accelerate its growth.
Funding was conducted through client vehicles advised by Goldman Sachs Asset Management Private Credit (“Goldman Sachs Asset Management”), with new investments from funds affiliated with Morgan Stanley Private Credit (“Morgan Stanley”) and Bridgepoint Capital, as well as regular investors HSBC, Golub Capital and Delta-v Capital.
The new capital will be used by CloudBees to advance and accelerate product innovation, recruit and develop talent, expand its presence in markets such as Asia-Pacific, and expand its global and regional partnerships.
âCloudBees is shaping the way some of the most sophisticated companies deliver software and innovation to their customers. This is how businesses compete and win in a world transformed by the continuous delivery of meaningful, secure and compliant digital experiences, âsaid Stephen DeWitt, CEO of CloudBees. âThis round of investment will help CloudBees reach new levels of innovation, attract and develop talent, and grow globally. One thing, however, will remain the same: our hyper-focus on guiding enterprise customers – operating at immense scale in the most demanding, complex, and multi-cloud environments – to reinvent the way they build their platforms. for software delivery.
âCloudBees customers go beyond the mere notion of DevOps to enable all teams involved in delivering software – engineering, operations, security and beyond – to continually improve the customer experience,â said Eric Riley of Goldman Sachs Asset Management. âWe see an inflection point of market opportunities and are delighted to be supporting the company, its management team and their clients on their digital transformation journeys.â Funding includes to both equity instruments and debt instruments.
CloudBees has been the premier software provider for businesses for ten years, including market powerhouses such as Autodesk, Broadridge, Capital One, DZ BANK, Fidelity Investments, HSBC, IHG, Morningstar, Pegasystems, Salesforce, Social Security Administration, The Hartford, United States Air Force, and United States Citizenship and Immigration Services.
The CloudBees list has 21 clients with annual recurring revenue over $ 1 million. In fact, 41% of CloudBees customers have annual revenue over $ 1 billion, and 26% have more than 10,000 employees.
In 2021, CloudBees recruited new leaders, including CEO Stephen DeWitt who joined the company in February. CloudBees attracted new members of the leadership team with extensive experience scaling high growth enterprise software companies including SAP, Splunk, Cobalt, RedHat, Cloudera, PayPal, Automation Anywhere , HP, HSBC, Cisco, Symantec and Chegg.
Since its previous round in 2018, CloudBees has:
- Announcing new products for continuous integration, continuous delivery, release orchestration, feature management, analytics and continuous compliance
- Acquisition of leading companies to strengthen its product portfolio and offerings, including CodeShip, Electric Cloud, Rollout and Neuralprints
- Increased number of employees by 70 percent to over 500
- Named one of G2’s Top 100 Software Products for 2021 and G2’s Top 50 Enterprise Software Products for 2020 and 2021
- Achieved the title of G2 Enterprise Leader for Continuous Integration for 10 consecutive quarters and claimed the number one position in Feature Management in Fall 2021
- Consistently ranked as a Category Leader and Top Performer by leading industry analysts for Continuous Integration, Continuous Delivery, Release Orchestration and Value Stream Management, including the 2018 and 2019 Magic Quadrant of Gartner for Application Release Orchestration, Forrester Wave 2018: Continuous Delivery and Release Automation, Forrester Wave 2019: Cloud-Native Continuous Integration Tools, Forrester Wave 2020: Continuous Release and Release Automation, and Forrester Wave 2020: Value chain management solutions