US-based software automation technology provider CloudBees completed a $37m funding round on Wednesday featuring Verizon Ventures, telecommunications group Verizon’s corporate venturing unit, alongside $25m of debt financing.
Venture capital and private equity firm Delta-v Capital led the equity portion of the round, which included Matrix Partners, Lightspeed Ventures, Unusual Ventures and Golub Capital, with Golub’s late-stage lending subsidiary also leading the debt portion.
Founded in 2010, CloudBees has created an end-to-end platform that automates software delivery, making use of DevOps, a system where software development and operation are essentially joined together.
The round, which increased the company’s overall funding to $86.2m, will support business growth which may include merger and acquisition deals, as well as the continuous development of the CloudBees Suite.
Matt Parson, CloudBees’ chief financial officer, said: “The DevOps market is exploding as the transformation to a global continuous economy emerges.
“We have seen significant growth in our business over the last several years, but we now see an even bigger opportunity just in front of us as continuous software delivery becomes a strategic imperative for every business.”
Verizon Ventures has been a CloudBees investor since 2014 when it led an $11.2m series C round that included Blue Cloud Ventures and existing backers Matrix Partners and LightSpeed Venture Partners.
The same four added $23.5m of funding the following year, in a series D round that valued CloudBees at $210m according to TechCrunch.