Burlington-based XebiaLabs announced a $100 million Series B funding round today, led by Susquehanna Growth Equity and Accel. The funding comes on the heels of the introduction of the company’s latest DevOps solution, XL Impact, which is the industry’s first goal-based DevOps intelligence platform designed to both optimize performance and measure impact in the development and deployment of software.
Today’s investment will perfectly position us to lead a new era where the essential focus is on scaling DevOps across the enterprise..."
The success of their solutions is evident in their company’s growth trajectory — new business at XebiaLabs grew by 117 percent in 2017, as did the size of their client portfolio, which includes enterprises such as AIG, Bank of America, Toyota and Davita Healthcare, to name a few.
“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.
Founded in 2008 to help IT teams develop and deploy software more successfully, XebiaLabs has grown in parallel with the increase of software developed by companies across industry verticals. In fact, Forrester Research recently published a piece naming 2018 as “The Year of Enterprise DevOps,” signaling a shift in software development.
In fact, as software applications have quickly become the swiftest conduit for companies and brands to reach and interact with customers, software DevOps has become a greater priority. According to XebiaLabs, their technology allows development teams to regain between 25 and 30 percent of the time they typically devote to low-level projects, enabling them to more fully focus on strategic software development, creating greater value for their companies and customers.
Given these cross-industry trends, as well as the innovation developed by the XebiaLabs team, attracting Series B funding was the logical next step.
For Arun Mathew, a partner at Accel, deciding to invest came down to the company's innovation and value proposition.
"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 a DevOps approach," said Mathew.
As part of the investment, both Mathew and Martin Angert, director at Susquehanna Growth Equity, will join the board of directors at XebiaLabs.
Tapping into the experiences of these exceptional VC firms, who have guided software industry leaders...will be invaluable.”
For Langone, XebiaLabs' CEO, attracting funding from VCs with a track record of tech success was crucial.
“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," said Langone.
In addition to the XL Impact platform launch and the Series B funding, XebiaLabs also welcomed a new chief product officer, Robert Stroud, a recognized industry leader who previously held a principal analyst role at Forrester Research, where he authored the study announcing 2018 as the year of DevOps. Additionally, the company plans to use their latest funding to further expand their team and continue to drive growth.