GitLab, founded by a Ukrainian citizen, raised $100 million. It became a unicorn valued at $ 1.1 billion
Startup GitLab with the Ukrainian co-founder raised $100 million in Series D round. Iconiq Capital became the principal investor. GV and Khosla Ventures also participated in the deal. According to the founders of the platform, assessment value of the Company as a part of the round made $1,1 billion. Consequently, GitLab became a “unicorn”.
The total amount of investment, taking into consideration the new round, makes 145 million. A year ago GitLab raised $20 million in Series C.
It should be reminded that the Company develops the platform for collaboration and DevOps. The key competitor of the Company is a company with similar name – GitHub. In July of 2018 GitHub acquired Microsoft. Thereafter GitLab told about tenfold growth of the number of repositories on the website.
GitLab is going to spend their investments on building a platform “all in one”. This will enable satisfying the developers’ needs and eliminating the need to integrate diverse services like Jira, GitHub, New Relic and BlackDuck. The Company expects to become “the best in the class” in each category of software for DevOps.
According to TechCrunch, the funds received will help the Company to develop the product and prepare for IPO. It is scheduled for 2020.
GitLab was founded in 2014 by Dmitriy Zaporozhets, a Ukrainian citizen, and Sid Sibrangy, a Dutchman. A detailed story of the Company’s birth and formation of the service was earlier posted by AIN.UA. For today, the Company has over 350 employees all over the world and 77 opened vacancies.
For seven years of operation the startup underwent training at Y Combinator, attracted such clients as NASA, CERN, Alibaba, SpaceX, IBM, Expedi, and such investors as GV (formerly Google Ventures), Khosla Ventures and Ashton Kutcher’s fund.