US-based app development software provider Docker has secured $105m in a series C round featuring enterprise software provider Atlassian and financial services firm Citi at a valuation of $2.1bn.
The round was led by private equity firm Bain Capital’s venture capital arm, Bain Capital Ventures, and was filled out by Vertex Ventures, Four Rivers, Benchmark, Insight Partners and Tribe Capital, while Atlassian and Citi invested through Atlassian Ventures and Citi Ventures respectively.
Formerly known as DotCloud, Docker operates a cloud-based platform where application developers can collaborate and access tools and content. It will use the capital to enhance the efficiency of its platform and streamline the development process.
Tribe Capital led Docker’s $23m series B round in March 2021, participating alongside Benchmark and Insight Partners, both having backed a $35m round when the company restructured in 2019, selling its Docker Enterprise platform to app services provider Mirantis for an undisclosed sum in the process.
Bain Capital Ventures partner Enrique Salem is joining the company’s board in conjunction with the latest round. Docker CEO Scott Johnston said in a blog post: “This funding is in the context of tectonic industry shifts which are fuelling developers’ use of Docker.
“Specifically, analysts forecast that 500 million apps will be built by the end of 2023 – that is more than the total apps built in the entire 40-year history of information technology. Furthermore, the job market for developers to build those apps is growing 8-times faster than the average occupation, to more than 45 million developers this decade.”
