Cisco Investments, the corporate venture capital subsidiary of networking technology producer Cisco, has led a $42m funding round for US-based software automation technology developer Puppet.
VMware also participated in the round along with venture capital firms Kleiner Perkins Caufield & Byers (KPCB) and True Ventures as well as EDBI, the investment arm of the Singaporean government’s Economic Development Board.
Formerly known as Puppet Labs, Puppet has built a platform that automates parts of the development and deployment process for software.
The funding comes after the company opened new offices in the US, Australia, Romania, Japan and Singapore, and acquired data virtualisation software provider Reflect for an undisclosed sum earlier this month.
Puppet has now raised approximately $127m in equity financing in addition to securing a $22m credit line from Silicon Valley Bank in early 2016.
Cisco, VMware and GV, a subsidiary of internet technology conglomerate Alphabet, took part in the company’s $8.5m series C round in 2011 alongside existing backers KPCB, True Ventures and Radar Partners.
VMware invested another $30m in Puppet in 2013 before joining Cisco, GV, KPCB, True Ventures and Triangle Peak Partners for a $40m round the following year.
Rob Salvagno, vice-president of Cisco Investments, said: “Businesses put increasingly massive pressure on enterprise IT – so it is important that those IT organisations partner with technology providers with compelling innovation, world-class support and a global community of experts.
“Puppet has a track record of empowering its customers with all of these critical elements. We look forward to working even more with Puppet as the global demand for automation technology and innovation continues to accelerate.”