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, Mass., June 9, 2014-- 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 Société Générale. 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.
Delivering higher quality software faster has become a business imperative. Current software development processes cannot keep pace with the demand for the faster delivery of software. While application development times have accelerated of late due to Agile, scrum and other methodologies, deployment best practices have not kept pace, resulting in a significant bottleneck at the point of application release.
XebiaLabs helps companies accelerate the rate of innovation and time to market while reducing error and downtime. With XebiaLabs, companies can easily move to continuous deployment and create a fully automated customer feedback loop so companies can quickly adapt their applications to the fast-shifting changes in the market. Customers experience up to 50% faster release times, 50% reduction in release cost and eliminate nearly 100% of errors in the process.
"XebiaLabs' offering is well-timed with the rapidly increasing demand for DevOps and Continuous Delivery solutions that drive faster time to value for the software delivery process," said Carter Griffin of Updata. James Socas added, "We believe the market will continue to see a shift toward greater automation as organizations look to scale their efforts to deliver customer value at an accelerated pace. XebiaLabs offers a powerful solution for the industry and we are excited to collaborate with them in building a great company in an exciting category."
XebiaLabs is the leading global provider of automation software for DevOps and Continuous Delivery helping companies to accelerate the delivery of new software. XebiaLabs' products provide the automation, efficiency and insight organizations need to meet the demand for faster software deployment cycles. Founded in 2008 and headquartered in Boston, XebiaLabs has a worldwide network of sales offices and partners. For more information, please visit www.xebialabs.com.
About Updata Partners
Updata Partners is a leading technology-focused growth equity firm with nearly $500 million of capital under management. Updata invests in high-growth software, Internet, and technology-enabled service businesses with innovative intellectual property and market-leading solutions. Led by an investment team averaging more than 20 years of experience in the technology industry, Updata seeks investments where the combination of the firm's financial backing and the operating expertise of its partners will accelerate growth. For more information about Updata Partners, please visit www.updata.com
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