CloudBees enterprise software delivery platform raises $150 million

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Enterprise-focused software delivery platform CloudBees has raised $150 million in a Series F funding round at a $1 billion valuation.

Founded in 2010, CloudBees initially built an enterprise product on top of the Jenkins open-source automation server project. Today, the San Jose, Calif.-based company works with leading companies such as Bosch, Airbnb, Salesforce, HSBC, and Allianz, offering a set of end-to-end software delivery tools spanning continuous integration. and continuous delivery (CI/CD). , feature management, analytics, and more. It’s about automating software deployments, monitoring quality, and ensuring that all updates can be easily tested and rolled back where defects are found.

The right tools for the job

Every business these days is effectively a software business, at least by many estimates, which means that every business needs tools to ensure that their software is bug-free and functional.

“The digital transformation story that began before the pandemic, and has only accelerated over the past 18 months, has made software the foundation of global enterprises,” said Stephen DeWitt, CEO of CloudBees at VentureBeat.

But with the pressures of sending out new code frequently, rather than rolling out big updates less often, it increases the chances of bad code ending up in the wild. These issues are perhaps greater in large enterprises – enterprises that may have dozens of different applications and millions of users worldwide. And that’s where CloudBees decided to help.

“Businesses are by definition complex — most businesses have years of existing investments in tools, processes, applications and infrastructure,” DeWitt said. “They have to orchestrate billions of lines of code in complex multi-cloud environments, and they have to do it in a compliant and secure way. We help customers do this at every level.

Continuous Compliance, Continuous Integration and Continuous Delivery

While it would be wrong to say that small businesses don’t have to worry about things like compliance, large companies – such as financial institutions – that handle the private data of millions of customers need to ensure that they comply with local privacy regulations. for their locality. This can be extremely time consuming, which is why CloudBees recently launched a dedicated compliance product that automates many compliance processes. This includes a rule builder, which defines compliance standards across an organization spanning source code and binary repositories, databases, on-premises infrastructure, cloud, and more, without having to train developers on standards compliance.

“We help developers focus their talent on the code they create, rather than the hassle of compliance,” DeWitt explained. “Consider, for example, a bank that does business in 140 countries. The compliance considerations required at this scale are staggering. So how do you automate this? How do you drive this capability while focusing on developer productivity? We are obsessed with answering these questions day after day.

Above: CloudBees Rules Designer

Previously, CloudBees raised around $105 million. With an additional $150 million in the bank – in addition to a separate $95 million credit facility announced today – the company is well funded to grow its platform, recruit new talent and grow its international footprint on markets such as Asia-Pacific (APAC). The company’s Series F round was led by “client vehicles” advised by Goldman Sachs Asset Management, with participation from Morgan Stanley, Bridgepoint Capital, HSBC, Golub Capital and Delta-v Capital.

CloudBees’ latest cash injection also comes in the same year as other notable players in the space, including Harness and CircleCI, which raised gargantuan sums at billion-dollar valuations. So it’s safe to say that the software delivery space is hot, and it’s likely only going to get hotter.

“The innovations of today – and tomorrow – are software-based,” DeWitt said. “Software governs every element of our lives: it’s how we manage our finances, how we vote, how our children learn, how we order food, how we even see a doctor… the list is endless. So if this is true – and we know it is – then the demand for software delivery is embedded in this new reality.

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