Total amount raised
$2.8 Billions
Latest funding date
September, 2019
Location
GitLab has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform is renowned for its comprehensive AI-powered DevSecOps capabilities, offering a seamless integration of development, security, and operations tools.
Keep reading to explore the intricacies of GitLab's fundraising journey and the investors backing this innovative platform.
What Is GitLab?
GitLab, founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, is a leading DevSecOps platform. The company integrates development, security, and operations into a single, comprehensive solution.
Headquartered in San Francisco, GitLab offers an AI-powered platform that automates software delivery, enhances productivity, and secures the software supply chain. The platform includes tools for continuous integration, AI-powered workflows, source code management, and automated software delivery.
With a global team, GitLab employs over 1,300 people, making it a significant player in the tech industry. The company's innovative approach has garnered recognition and a strong user base worldwide.
How Much Funding Has GitLab Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company and develop its initial platform.
- Seed Round
- Amount Raised: $1.5M
- Date: July 2015
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and support early-stage growth.
- Series A
- Amount Raised: $4M
- Date: September 2015
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $20M
- Date: September 2016
- Lead Investors: August Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series C
- Amount Raised: $20M
- Date: October 2017
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support new platform releases and improve security features.
- Series D
- Amount Raised: $100M
- Date: September 2018
- Lead Investors: ICONIQ Growth
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To enhance security integration and speed up secure releases.
- Series E
- Amount Raised: $268M
- Date: September 2019
- Lead Investors: Goldman Sachs, ICONIQ Growth
- Valuation at Round: $2.75 billion
- Motivation Behind the Round: To expand the workforce, enhance platform features, and prepare for an IPO.
Total Amount Raised: $413.5M. Current Valuation: $2.75 billion.
Key Investors
- ICONIQ Capital
- Details: ICONIQ Capital is a privately held investment firm that serves influential families and organizations. They are known for their strategic investments in high-growth technology companies.
- Investment Focus Areas: Technology, software, innovative companies.
- Notable Investments: GitLab, Snowflake, Uber, Zoom.
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. They provide a wide range of financial services to a substantial and diversified client base.
- Investment Focus Areas: Technology, finance, healthcare.
- Notable Investments: GitLab, Uber, Spotify, WeWork.
- Y Combinator Continuity Fund
- Details: The Y Combinator Continuity Fund supports Y Combinator alumni companies through growth-stage investments. It aims to help these companies scale and succeed in their respective markets.
- Investment Focus Areas: Startups, growth-stage companies.
- Notable Investments: GitLab, Airbnb, Stripe, Dropbox.
- Adage Capital Management
- Details: Adage Capital Management is a Boston-based investment management firm that primarily focuses on managing assets for endowments and foundations. They have a diversified investment approach.
- Investment Focus Areas: Public equity markets, growth stocks, value stocks.
- Notable Investments: Primarily focused on public companies.
- Alkeon Capital
- Details: Alkeon Capital is a global investment firm that focuses on long-term investments in technology and growth sectors. They invest in both public and private markets.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: GitLab, Pinterest, Spotify.
What's Next for GitLab?
GitLab stands at the cusp of significant growth opportunities, driven by the expanding demand for integrated DevOps solutions. With a valuation of $2.75 billion and a recent $268 million funding round, the company is poised to enhance its platform with advanced security, monitoring, and planning features. The DevOps market, projected to grow to over $10 billion by 2023, offers a vast landscape for GitLab to capture a larger share, especially as it continues to innovate and release monthly updates.
As GitLab prepares for its planned IPO in November 2020, the company is well-positioned to attract further investment, potentially through a direct listing. This move could provide the necessary capital to expand its workforce and improve its product offerings. However, GitLab faces challenges such as intense competition from established players like GitHub and the need to maintain rapid growth while ensuring product quality. Successfully navigating these hurdles will be crucial for GitLab's continued success and market leadership.
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