Total amount raised
$315 Millions
Latest funding date
5/1/2021
Location
CircleCI has successfully raised significant funding through multiple rounds, with notable investors such as Top Tier Capital Partners and Owl Rock Capital. The platform specializes in continuous integration and delivery, offering robust solutions for automated testing and deployment.
Keep reading to explore the intricacies of CircleCI's fundraising journey and the investors backing this innovative platform.
What Is CircleCI?
CircleCI, founded in 2011 by Allen Rohner and Paul Biggar, is headquartered in San Francisco, California. The company specializes in continuous integration and delivery, providing a platform that automates development workflows and IT operations.
With a team of 251-500 employees, CircleCI helps software teams rapidly release code by automating the build, test, and deploy process. This enables teams to detect and fix bugs before they reach customers, ensuring a smoother development cycle.
CircleCI's platform supports various applications and technologies, offering automated testing, end-to-end visibility, and automated triggers for every change event. This makes it a valuable tool for engineering teams aiming to build, test, and deploy production-ready code efficiently.
How Much Funding Has CircleCI Raised?
- Seed Round
- Amount Raised: $1.5M
- Date: February 2013
- Lead Investors: Baseline Ventures, Harrison Metal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their continuous integration and delivery platform.
- Series A
- Amount Raised: $6M
- Date: February 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $2.5M
- Date: September 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance platform capabilities.
- Series B
- Amount Raised: $18M
- Date: May 2016
- Lead Investors: Scale Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and expand market reach.
- Series C
- Amount Raised: $31M
- Date: January 2018
- Lead Investors: Top Tier Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase customer acquisition.
- Series D
- Amount Raised: $56M
- Date: July 2019
- Lead Investors: Owl Rock Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and invest in new technologies.
- Series E
- Amount Raised: $100M
- Date: April 2020
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand global operations and enhance platform capabilities.
- Series F
- Amount Raised: $100M
- Date: May 2021
- Lead Investors: Greenspring Associates
- Valuation at Round: $1.7B
- Motivation Behind the Round: To increase developer productivity and explore business growth opportunities.
Total Amount Raised: $315.5M. Current Valuation: $1.7B.
Key Investors
- Greenspring Associates
- Details: Greenspring Associates is a venture capital firm that leads investments in innovative companies. They focus on providing growth equity and secondary investments.
- Investment Focus Areas: Venture capital, growth equity, secondary investments.
- Notable Investments: Databricks, Toast, AppLovin.
- IVP (Institutional Venture Partners)
- Details: IVP is a later-stage venture capital firm that invests in rapidly-growing technology companies. They have a history of backing successful startups.
- Investment Focus Areas: Later-stage venture capital, growth equity.
- Notable Investments: Slack, Twitter, Snap.
- Sapphire Ventures
- Details: Sapphire Ventures focuses on growth-stage technology companies. They provide capital and expertise to help companies scale.
- Investment Focus Areas: Growth-stage technology companies.
- Notable Investments: LinkedIn, Box, Square.
- Baseline Ventures
- Details: Baseline Ventures is a seed-stage investment firm that backs early-stage technology companies. They have a track record of identifying promising startups.
- Investment Focus Areas: Seed-stage investments in technology companies.
- Notable Investments: Instagram, Twitter, Stitch Fix.
- Scale Venture Partners
- Details: Scale Venture Partners invests in early-in-revenue technology companies. They focus on helping companies grow and achieve market success.
- Investment Focus Areas: Early-in-revenue technology companies.
- Notable Investments: Box, DocuSign, HubSpot.
What's Next for CircleCI?
CircleCI stands at the cusp of significant growth opportunities, driven by the increasing adoption of CI/CD practices and the integration of advanced release orchestration tools from their recent acquisition of Vamp. With a robust platform already processing over 2.5 million jobs per day, the company is well-positioned to capitalize on the expanding market for automated software development solutions.
Future fundraising opportunities appear promising, as the successful $100 million Series F round indicates strong investor confidence. This financial backing will likely support further expansion and innovation, potentially leading to additional funding rounds or even an IPO. However, challenges such as integrating new technologies and maintaining platform reliability amidst rapid growth will require strategic focus and careful management.
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