CloudBees, the leading software delivery platform for enterprises, announced it has closed a $150 million Series F financing round at a pre-money valuation of $1 billion. The company also closed a $95 million debt facility to accelerate growth.
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“We see an inflection point of market opportunity, and are pleased to support the company, its leadership team, and their customers in their digital transformation journeys.”
The financing was led by client vehicles advised by Goldman Sachs Asset Management Private Credit (“Goldman Sachs Asset Management”), with new investments from funds affiliated with Morgan Stanley Private Credit (“Morgan Stanley”) and Bridgepoint Capital, along with repeat investors HSBC, Golub Capital, and Delta-v Capital.
The new capital will be used by CloudBees to advance and accelerate product innovation, recruit and develop talent, expand its footprint in markets like Asia Pacific, and broaden its global and regional partnerships.
“CloudBees shapes the way some of the most sophisticated businesses deliver software and innovation to their customers. It’s how enterprises compete and win in a world that is transformed by the continuous delivery of meaningful, secure, and compliant digital experiences,” said Stephen DeWitt, CloudBees CEO. “This investment round will help CloudBees achieve new levels of innovation, attract and grow talent, and expand globally. One thing, however, will remain the same: our hyper-focus on guiding enterprise customers – operating at immense scale in the most demanding, complex and multi-cloud environments – to reimagine the way they build their platforms for software delivery.”
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“CloudBees’ customers are moving beyond the notion of just DevOps to enabling all teams involved in delivering software – engineering, operations, security, and beyond – to continuously improve customer experiences,” said Eric Riley from Goldman Sachs Asset Management. “We see an inflection point of market opportunity, and are pleased to support the company, its leadership team, and their customers in their digital transformation journeys.” The financing includes both equity and debt instruments.
CloudBees has a decade-long history of being the go-to software delivery provider for enterprises, including market powerhouses such as Autodesk, Broadridge, Capital One, DZ BANK, Fidelity Investments, HSBC, IHG, Morningstar, Pegasystems, Salesforce, Social Security Administration, The Hartford, the United States Air Force, and the United States Citizenship and Immigration Services. The CloudBees roster boasts 21 customers with annual recurring revenue greater than $1 million. In fact, 41 percent of CloudBees’ customers have annual revenue above $1 billion and 26 percent have more than 10,000 employees.