US-based software services provider GitLab secured $20m in a series C round yesterday led by GV, the early-stage investment vehicle of internet and technology conglomerate Alphabet.
GitLab has not named the other investors in the round, though it revealed that Matt Mullenweg, founder of content management system producer WordPress, will join its board of directors.
Founded in 2014, GitLab operates an online management tool for software code that helps developers keep track of changes made by others in their team, ensuring they always have access to the latest version.
The platform also includes code review, test and release automation, and application monitoring features. It is used by more than 100,000 organisations including e-commerce group Alibaba, semiconductor producer Intel and event ticketing service Ticketmaster.
The series C money will allow GitLab to add more functionality to its platform and advance to a full-fledged software development and operations business.
Venture capital firm August Capital led the company’s $20m series B round in September 2016, with participation from Khosla Ventures and Y Combinator, a year after Khosla Ventures provided it with $4m in series A funding.
Khosla Ventures, 500 Startups, Crunchfund, Sound Ventures and Liquid 2 Ventures had already supplied $1.5m in seed capital to GitLab in July 2015.