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Software delivery platform CloudBees hits unicorn status after $150m raise

CloudBees

Enterprise software delivery platform for CloudBees has raised $150m (£131m) in a Series F financing round at a $1bn pre-money valuation.

It means the company has achieved unicorn status – a privately held startup valued at $1bn or more.

The round was led by client vehicles advised by Goldman Sachs Asset Management Private Credit. New investors included Morgan Stanley and Bridgepoint Capital, while HSBC, Golub Capital, and Delta-v Capital backed the company once again. CloudBees also closed a $95m debt facility, which it said will “accelerate growth”.

CloudBees said it will use the new capital on product innovation, recruitment and talent development. It will also focus on expanding its footprint in Asia Pacific and broaden its global and regional partnerships.

Founded in 2010 in San Jose, CloudBees operates across global markets and has an office in London. Its software delivery platform is used by organisations running complex IT infrastructures, including Autodesk, Broadridge, Capital One, DZ BANK, Fidelity Investments, HSBC, IHG, Morningstar, Pegasystems, Salesforce, and more.

It boasts 21 enterprise customers with annual recurring revenue greater than $1m.

The investment comes after CloudBees appointed CEO Stephen DeWitt in February. It has attracted new executive team members with experience at SAP, Splunk, Cobalt, RedHat, Cloudera, Paypal, Automation Anywhere, HP, HSBC, Cisco, Symantec, and Chegg.

Stephen DeWitt, CloudBees CEO, said: “This investment round will help CloudBees achieve new levels of innovation, attract and grow talent, and expand globally. One thing, however, will remain the same: our hyper-focus on guiding enterprise customers – operating at immense scale in the most demanding, complex and multi-cloud environments – to reimagine the way they build their platforms for software delivery.”

“CloudBees’ customers are moving beyond the notion of just DevOps to enabling all teams involved in delivering software – engineering, operations, security, and beyond – to continuously improve customer experiences,” said Eric Riley from Goldman Sachs Asset Management.