US-based software delivery technology provider XebiaLabs raised more than $100m in series B funding from investors including Susquehanna Growth Equity (SGE), a subsidiary of technology and trading firm Susquehanna International Group, yesterday.
Venture capital firm Accel also participated in the round together with “many” unnamed existing shareholders. The company had previously received $12m in a 2014 round led by growth equity firm Updata Partners, which it identified as its first institutional investor.
Founded in 2008, XebiaLabs specialises in DevOps software, which is intended to unify elements of software development and operation in order to cut the time needed to make improvements and adjustments to a product.
The company’s enterprise-focused technology uses intelligence and automation to help businesses deliver software more quickly and efficiently. It recently released a goal-based product called XL Impact that enables users to track and optimise their DevOps deployment.
XebiaLabs will use the series B funds to increase headcount, beginning with the hiring of Robert Stroud from research and advisory firm Forrester as its chief product officer.
SGE director Martin Angert will join XebiaLabs’ board of directors in conjunction with the funding, as will Accel partner Arun Mathew. Angert said: “XebiaLabs has a deep understanding of the challenges specific to enterprise software delivery.
“Our investment, together with the recent release of XL Impact, will further extend XebiaLabs’ lead as the gold standard for enterprise DevOps.”