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Copado raises $140 million on $1.2B valuation to expand its DevOps platform
Copado, a DevOps platform for Salesforce, today announced today it has raised $140 million in new financing led by Insight Partners to grow its DevOps and artificial intelligence-enabled testing solutions.
The Series C round also saw participation from new investors SoftBank Vision Fund 2, Declaration Partners and DG Ventures, as well as existing investors, including Salesforce Ventures and ISAI Cap Venture.
This new funding brings the total funds invested in Copado to $257 million and the company cited a valuation approaching $1.2 billion.
“DevOps is now strategic to every business as digital economies become mainstream,” said Ted Elliott (pictured), chief executive of Copado. “Nearly every company in the world is looking to accelerate their development lifecycle and empower teams to quickly deliver software without the fear of failed deployments.”
Founded in 2013, Copado was built as a Salesforce-focused platform for end-to-end DevOps processes, continuous delivery, automated testing and compliance. More recently the company began to support additional clouds and platforms, including MuleSoft, Commerce Cloud, Veeva and Heroku.
The company also acquired the DevSecOps startup New Context Inc. in March to expand its multicloud and security capabilities and automated AI-testing outfit Qentinel in June.
“Today, our customers are asking us to replicate the success they have experienced using Copado with Salesforce on other software-as-a-service platforms,” said Philipp Rackwitz, co-founder and chief strategy officer of Copado. “This customer driven innovation is fueling our growth and multi-cloud expansion strategy.”
Copado has expanded its global roster of brands using its platform to more than 1,100 member, including AmerisourceBergen Corp., Cox Automotive Inc. and Linde plc. According to the company, in the past six months, it has added Campbell’s Soup Co., Splunk Inc., Standard Bank and TalkTalk Group.
The company intends to use this infusion of financing to further broaden its DevOps and AI-driven testing solutions across enterprise SaaS platforms and drive international growth, especially into Asia-Pacific.
“Rapid adoption of cloud technologies and low-code development products is underpinned by a driving need to digitally deliver services faster than ever before,” said Nikitas Koutoupes, managing director at Insight Partners and Copado board member. “The best way for any CIO to ensure that their development team is up to the task of delivering secure, high-quality software at a rapid pace is to implement DevOps across the software development life cycle. DevOps is the engine of digitalization.”
Photo: Copado
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