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Gitlab raises $100 Million in Series D, eyes IPO by November 2020
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Welcome this latest fresher to the Unicorn club! Gitlab, the company that aims to develop a single-source platform for the entire devops lifecycle, has announced raising of a $100 Million Series D round, led by Iconiq capital.
The round also helps Gitlab cross the $1 Billion valuation mark and enter the Unicorn club. The company, through this round, is also eyeing an IPO by November 2020, as per CEO Sid Sijbrandij's statement to TechCrunch. Sibrandij also notes, that it was actually Microsoft's Github acquisition that helped in speeding up the fundraise process, a matter he would have otherwise looked into early next year.
Gitlab acts as a single app which can help organisations monitor and execute their entire devops lifecycle. The company does it by shortening your devops cycle time and bridging silos and stages. It currently offers its product in nine categories and is competing in the technology waters with the likes of VersionOne, Jira, Jenkins, Electric Cloud, Puppet, among others.
With this latest influx of a fairly decent amount of capital, Gitlab aims to further strengthen its current product, while looking to launch a few newer ones. Of course, looking at the multiple areas that Gitlab competes in, it is not a matter of surprise that Sibrandij is looking to raise a more round before his company goes all guns blazing towards an IPO.
Sibrandji adds,
Since raising a Series C round last year, we've delivered on our commitment to bring a single application for the entire DevOps lifecycle to market, and as a result have been able to reach over $1 billion in valuation.
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