Report: Docker raises $92M as part of a $192M round
Software container pioneer Docker Inc. has apparently raised $92 million in new funding, according to a U.S. Securities and Exchange filing.
The round, first spotted by TechCrunch, is the partial fulfillment of a round in which Docker is seeking to raise $192 million, the first time it has raised funding since a round of $61.8 million in October 2017.
Docker’s last round was aiming at raising $75 million on a $1.3 billion valuation but fell short, a scenario that could be at play here given that so far the company has raised less than half of the figure it’s aiming for. The filing is a regulatory requirement, but usually a company successfully raising money would file the final amount. The fact that Docker has filed now suggests that it may be struggling to raise the total amount.
If the filing isn’t somewhat unusual to begin with, Crunchbase News noted that “key details in the filing casts some doubt on the size and status of the round.”
Highlights include the fact that the filing indicates that the first sale took place on Sept. 25, 2017, that is, prior to its last round of funding. The form is also an amendment to that round, meaning that while raising $61.8 million last year, it may have simply added $30 million to the amount raised then and this isn’t a new round.
Whatever the number, Docker has successfully repositioned itself after seemingly losing out to Kubernotes to become the defacto standard for container management, even adding support for it in October 2017.
“Docker has quietly transformed into an enterprise business with explosive revenue growth and a developer community in the millions,” Chief Executive Officer Steve Singh wrote following the departure of founder Solomon Hykes in March. “Our strategy is simple: every large enterprise in the world is preparing to migrate their applications and infrastructure to the cloud, en masse. This puts Docker at the center of a massive growth opportunity.”
Given the ambiguity of the new funding, it’s difficult to estimate how much Docker has raised to date. Crunchbase pegs the figure at $334.7 million, but that may not be accurate.
Image: Docker
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