XebiaLabs Raises $12m in Growth Equity Round by Updata Partners
First Institutional Funding Will Drive Continued Growth in Fast Moving DevOps & Continuous Delivery Market
BOSTON, MA, Jun 09, 2014 (Marketwired via COMTEX) — Leading delivery automation vendor XebiaLabs today announced it has closed a $12 million growth equity investment by Washington, D.C. based Updata Partners. Since its founding in 2008, XebiaLabs has experienced dramatic success with over 100% revenue growth every year and has gained validation from customers such as General Electric, Expedia, Xerox, KLM, and Societe Generale. This financing will be used to fuel continued fast growth globally in the rapidly expanding DevOps and Continuous Delivery market.
“Updata’s investment is a vote of confidence in XebiaLabs and our market opportunity,” said Coert Baart, XebiaLabs chief executive officer. “Software is the most critical component to the success of many of today’s organizations. Lack of automation is preventing companies from delivering software and its corresponding business value fast enough. XebiaLabs is the first fully automated delivery automation software that solves this challenge and this funding will help us reach even more customers worldwide.”
Updata Partners is the first institutional investor in XebiaLabs. Post transaction, Updata general partners Carter Griffin and James Socas will join XebiaLabs’ six person board, along with founder and chairman Daan Teunissen, chief executive officer Coert Baart, and independent directors Alex Pinchev, formerly President of Red Hat, Inc., and Wim Heijting, formerly of Baan Company. Michel den Braver will serve as board observer and advisor.