XebiaLabs, the Boston-based software program startup that helps firms automate DevOps features, introduced a wholesome $100 million Collection B funding led by Susquehanna Progress Fairness and Accel. At the moment’s funding brings the full raised to $121.5 million.
Derek Langone, Xebia’s CEO says they raised the cash out of a need to develop extra quickly. “You at all times wish to elevate cash for the proper causes. The appropriate purpose was progress. We had sufficient cash within the financial institution to maintain the enterprise going, however we wished to develop our partnerships and convey extra engineers in,” he mentioned. The corporate wouldn’t have been in a position to do a few of these sorts of issues with out an infusion of capital.
Langone says that as each firm turns into a software program firm, it will increase the quantity complexity related to managing the software program setting. His firm tries to assist by bringing a excessive degree of automation to that course of.
He factors out that there’s a enormous expense when it comes to time and labor concerned in constructing and sustaining the software program techniques that run a typical massive enterprise. “We streamline that course of and redeploy clever artistic engineers on increased worth actions as an alternative of writing plumbing code to maneuver stuff round,” Langone defined.
He says his firm’s software program creates a variety of that underlying code for the shopper, saving them the time and expense of doing it manually. “As functions change into increasingly more advanced and dwell in cloud and on prem, that degree of complexity means the quantity of guide work to create these routes will get to the purpose the place it’s virtually inconceivable to perform in a corporation that has tons of or 1000’s of functions,” he mentioned.
They’ve 200 prospects together with massive enterprises like Financial institution of America, Keybank, GE and United Well being. The corporate grew income by 117 p.c yr over yr final yr and maybe that form of tempo together with the scale of their prospects is what caught the eye of its traders. They bestowed an enormous amount of cash on the corporate for a Collection B funding when firms are sometimes simply attempting to show a product-market match.
Xebia has really been round for 10 years, so maybe this isn’t a typical Collection B spherical you would possibly see for a younger startup. The corporate really launched in 2008 earlier than DevOps, the concept that you divide the duties of developer and operations into a definite set of tasks, was on the radar of most firms, particularly the massive organizations that Xebia companies at the moment.
As the corporate brings on new prospects, it might want to develop not simply engineering, but in addition buyer help. With 140 staff unfold throughout a number of places of work in US, EU and India, you could be positive they are going to increasing that quantity with tne new cash.
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