GitLab has successfully raised $412 million over five funding rounds, achieving a valuation of $2.8 billion. The platform is a comprehensive AI-powered DevSecOps solution, offering automation, security, and productivity enhancements.
Keep reading to explore the intricacies of GitLab's fundraising journey and the investors backing this innovative platform.
What Is GitLab?
Founded by Dmitriy Zaporozhets and Sytse Sijbrandij, GitLab emerged as a pioneering force in the DevOps landscape. The company, established in 2011, is headquartered in San Francisco and operates on a fully remote model.
GitLab offers a comprehensive AI-powered DevSecOps platform that integrates development, security, and operations into a single application. This unique approach enables organizations to achieve unmatched visibility, efficiency, and governance throughout the software lifecycle.
With a workforce of over 1,000 employees, GitLab continues to innovate and expand its offerings, helping businesses accelerate their software delivery and enhance security measures.
How Much Funding Has GitLab Raised?
- Series A
- Amount Raised: $4,000,000
- Date: September 2015
- Lead Investors: Khosla Ventures
- Motivation Behind the Round: To secure initial funding to grow the company and develop its product.
- Series B
- Amount Raised: $20,000,000
- Date: September 2016
- Lead Investors: August Capital, Y Combinator, Khosla Ventures
- Motivation Behind the Round: To execute GitLab's master plan and expand its market presence.
- Series C
- Amount Raised: $20,000,000
- Date: October 2017
- Lead Investors: GV (Google Ventures)
- Motivation Behind the Round: To complete the DevOps lifecycle and improve the product.
- Series D
- Amount Raised: $100,000,000
- Date: September 2018
- Lead Investors: ICONIQ Capital
- Motivation Behind the Round: To continue scaling the company and enhancing its product offerings.
- Series E
- Amount Raised: $268,000,000
- Date: September 2019
- Lead Investors: Goldman Sachs, ICONIQ Capital
- Valuation at Round: $2.8B
- Motivation Behind the Round: To further expand GitLab's capabilities and market reach.
Total Amount Raised: $412M. Current Valuation: $2.8B.
Key Investors
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding for early-stage startups. It has funded over 2,000 startups, including well-known companies like Airbnb, Dropbox, and Reddit.
- Investment Focus Areas: Early-stage startups, software, hardware, healthcare
- Notable Investments: Airbnb, Dropbox, Reddit
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It has a long history of investing in high-growth companies across various sectors.
- Investment Focus Areas: Technology, financial services, healthcare, consumer/retail
- Notable Investments: Uber, Facebook, Spotify
- ICONIQ Capital
- Details: ICONIQ Capital is a global multi-family office and merchant bank that invests in technology and growth companies. It focuses on long-term partnerships and value creation.
- Investment Focus Areas: Technology, growth companies
- Notable Investments: Snowflake, Uber, DocuSign
- GV (formerly Google Ventures)
- Details: GV is the venture capital arm of Alphabet Inc., focusing on investments in various sectors. It aims to support companies that have the potential to disrupt their industries.
- Investment Focus Areas: Technology, life sciences, consumer products
- Notable Investments: Uber, Nest, Slack
- Khosla Ventures
- Details: Founded by Vinod Khosla, Khosla Ventures is a venture capital firm that provides funding to transformative technology companies. It is known for backing innovative and high-growth potential startups.
- Investment Focus Areas: Transformative technology, open-source solutions
- Notable Investments: Impossible Foods, Square, DoorDash
What's Next for GitLab?
GitLab stands at the cusp of significant opportunities, driven by the burgeoning DevOps market expected to triple by 2023. The company aims to enhance its platform's monitoring, security, and planning capabilities, enabling enterprise customers to bring products to market faster. With a valuation of $2.75 billion and a 143% annual recurring revenue growth rate, GitLab is well-positioned to capitalize on the growing demand for unified DevOps solutions.
Future fundraising rounds seem likely as GitLab continues to innovate and expand its offerings. The rapid growth in the DevOps market and GitLab's strong performance could attract more investors, further fueling its expansion. However, the company faces challenges such as maintaining rapid growth, staying ahead of competitors, and scaling operations while ensuring quality and security. Balancing these aspects will be crucial for GitLab's sustained success.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like GitLab and gather other critical business insights. Sign up for free today and elevate your sales strategy with the power of detailed, actionable information.
