Docker, the US-based application management software provider backed by enterprise software producer Salesforce, has raised $35m from venture capital firms Benchmark and Insight Partners as part of a restructuring process.
Founded in 2010 as DotCloud, Docker has built a container platform through which enterprises can develop, share and deliver applications on premises or in the cloud, in addition to a container image repository called Docker Hub.
The company secured the new funding in connection with the sale of its Docker Enterprise Platform business to enterprise app services firm Mirantis for an undisclosed amount, in a deal that will involve the transfer of associated employees.
Docker will now refocus toward app developers, and chief product officer Scott Johnston is being promoted to chief executive of the restructured company.
Outgoing CEO Rob Bearden said: “After conducting thorough analysis with the management team and the board of directors, we determined that Docker had two very distinct and different businesses: one an active developer business, and the other a growing enterprise business.
“We also found that the product and the financial models were vastly different. This led to the decision to restructure the company and separate the two businesses, which is the best thing for customers and to enable Docker’s industry-leading technology to thrive.”
The company had previously received a total of $274m, most recently nabbing $91.9m between late 2017 and October 2018 according to a securities filing, from investors including Benchmark, AME Cloud Ventures, Coatue Management and Greylock Partners, at a valuation pegged by the Wall Street Journal as $1.3bn.
Salesforce has not disclosed when it invested but its corporate VC unit, Salesforce Ventures, lists Docker on its portfolio company page. Docker closed its $113m series D round in 2015, raising the cash from Insight Partners, Benchmark, Coatue, Goldman Sachs, Greylock, AME Cloud Ventures, Northern Trust, Trinity Ventures and Sequoia Capital.
