US-based software services provider GitLab secured $100m yesterday in a series D round featuring GV, the early-stage investment arm of internet technology conglomerate Alphabet.
The round, which valued GitLab at more than $1bn, was led by multi-family office Iconiq Capital and included venture capital firm Khosla Ventures.
Founded in 2014, GitLab has developed a platform to help developers manage, plan, create, verify, package, release, configure, monitor and secure software code.
The company initially focused on a source code management tool, but since it last raised funding in October 2017 it has expanded the application to cover the entire lifecycle of software development.
GitLab will use the series D funding to further improve its offering. It is also hiring for an additional 77 positions to add to a current headcount of more than 350.
The latest funding comes after GitLab raised $20m in an October 2017 series C round led by GV, after August Capital had led its $20m series B in 2016 with participation from Khosla Ventures and Y Combinator.
Khosla Ventures supplied $4m in series A funding for the company in 2015, the same year it contributed to a $1.5m seed round alongside 500 Startups, Crunchfund, Sound Ventures and Liquid 2 Ventures.