XebiaLabs Drives Triple-Digit Growth and Closes $100M+ Strategic Capital Investment from Susquehanna Growth Equity and Accel
New Era of Enterprise DevOps Propels Record Revenues, New Customers and Backing of Top Investors
BOSTON, February 12, 2018-- XebiaLabs, the recognized leader in Enterprise DevOps and Continuous Delivery software, today announced that it has completed 2017 with 117% growth in new business and secured a Series B growth investment of over $100M from investors, including Susquehanna Growth Equity and Accel, along with many existing shareholders. Today’s news validates XebiaLabs’ unparalleled success and leadership in the thriving DevOps market, a momentum that will be fueled by this new injection of capital.
XebiaLabs was founded in the early days of DevOps to help IT teams develop and deploy software more simply and quickly. As companies in many industries now rely on software in every part of their business to compete, their success depends on their ability to deliver software quickly, safely, and effectively – and in a way that is sustainable and scalable across an entire organization and vast, hybrid infrastructure.
Forrester Research declared in a recent blog post that 2018 will be “The Year of Enterprise DevOps,” acknowledging the growing number of companies that have reached an inflection point where they are moving from individual projects in which one team automates one application, to enterprise-wide initiatives that can support thousands of software developers and applications. Traditionally, every developer had to write one-off custom code to release software to end users. As companies transform the way they build and deliver software, they need developers to spend 100% of their time building the actual business applications.
KeyBank, a financial services institution headquartered in Cleveland, OH, with over 20,000 employees, saw the strategic importance of software and turned to XebiaLabs and its DevOps platform for help. John Rzeszotarski, SVP, Director of Continuous Delivery and Feedback at KeyBank explains, “a large and complex organization like KeyBank with several hundred applications requires security, governance, and traceability for all its application releases. Moreover, organizations that are striving to remove bottlenecks and meet the speed of the business need a powerful and simple means to execute each release. XebiaLabs has provided us a platform that can automate even our most complex software applications quickly and reliably.”
Growing Number of Global 2000 Companies Turn to XebiaLabs to Scale DevOps Across their Organizations
XebiaLabs is spearheading this new era of enterprise DevOps as more and more companies turn to them to support their growing DevOps initiatives. In 2017, new business grew by 117%, as the company added dozens of new Global 2000 clients, including AIG, Bank of America, Toyota, Alliance, Davita Healthcare, TD Bank, Scotiabank, Raiffeisenbank, Anthem, and NASA. XebiaLabs also once again received important accolades from top industry analysts, Gartner and Forrester Research, who have ranked the company as a leader in its field.
“This past year was our strongest to date, and today’s investment will perfectly position us to lead a new era where the essential focus is on scaling DevOps across the enterprise,” said Derek Langone, CEO of XebiaLabs. “Tapping into the experiences of these exceptional VC firms, who have guided software industry leaders such as Facebook, Dropbox, Slack, Cloudera, PagerDuty, and Atlassian, will be invaluable as we work with them to define the future of enterprise DevOps.”
“In fact, we recently introduced an industry-first DevOps intelligence solution, XL Impact,” Langone continued. “XL Impact allows companies to take a critical step in improving software delivery – tracking and reporting on the business impact of their DevOps initiatives.”
Growth Investment to Service New Era of Enterprise DevOps
XebiaLabs’ unparalleled track record of building the enterprise DevOps market, its forward-thinking product innovation, such as its DevOps intelligence product, XL Impact, and this new $100M+ investment, will enable the company to service increasing enterprise demand. XebiaLabs will invest in staffing to drive further DevOps innovation and thought leadership. The company also recently announced the addition of a new Chief Product Officer, Robert Stroud, a recognized industry thought leader and former Principal Analyst with Forrester Research. XebiaLabs will continue to work closely with new and existing clients and increase its global reach as the industry-standard DevOps platform for enterprises.
“XebiaLabs has a deep understanding of the challenges specific to enterprise software delivery,” said Martin Angert, Director at Susquehanna Growth Equity. “Our investment, together with the recent release of XL Impact, will further extend XebiaLabs’ lead as the gold standard for enterprise DevOps.”
Arun Mathew, partner at Accel, added: “XebiaLabs handles a company’s complexity at scale—a previously impossible feat. This, coupled with their market-leading DevOps platform and innovative technology, makes us excited to be working with such a talented team that recognizes the dynamic obstacles companies go through as they streamline to a DevOps approach.”
As part of the investment, Martin Angert, director at Susquehanna Growth Equity, and Arun Mathew, partner at Accel, will join XebiaLabs’ Board of Directors.
• Gartner Magic Quadrant for Application Release Automation: https://www.xebialabs.com/MQ and Gartner Critical Capabilities for Application Release Automation: https://xebialabs.com/cc
• Forrester Wave Continuous Delivery and Release Automation Q3, 2017 report: https://xebialabs.com/resources/analyst-reports/the-forrester-wave-q3-2017/
• Announcing XL Impact: http://blog.xebialabs.com/2017/11/13/announcing-xl-impact/
• KeyBank Gets Deployment Control and Speed: https://blog.xebialabs.com/2017/09/07/keybank-gets-deployment-control-and-speed-with-xebialabs-and-openshift/
About Susquehanna Growth Equity, LLC
Susquehanna Growth Equity, LLC (SGE) invests in growth stage technology companies in the software, information services, internet and financial technology sectors. SGE is backed by a unique and patient source of capital, which enables the firm to give management teams and entrepreneurs freedom and flexibility to maximize growth. The firm has invested in over 50 companies over the last 10 years, and has portfolio companies across the US, Canada, EU, and Israel. To learn more, please visit us at www.sgep.com.
Accel is a leading venture capital firm that invests in people and their companies from the earliest days through all phases of private company growth. Atlassian, Braintree, Cloudera, DJI, Dropbox, Dropcam, Etsy, Facebook, Flipkart, Jet, Lookout Security, Qualtrics, Slack, Spotify, Supercell, and Vox Media are among the companies the firm has backed over the past 30 years. The firm seeks to understand entrepreneurs as individuals, appreciate their originality and play to their strengths. Because greatness doesn't have a stereotype. For more, visit www.accel.com.
XebiaLabs develops enterprise-scale Continuous Delivery and DevOps software, providing companies with the visibility, automation, and control they need to deliver software faster and with less risk. Global market leaders rely on XebiaLabs to meet the increasing demand for accelerated and more reliable software releases.
Karin Lauria, 617-307-4280
Director of Marketing Communications
Venture Capital Database