Amid rumors of acquisition, GitHub has raised a whopping $250 million in a fresh Series-B funding round led by Sequoia Capital, Andreessen Horowitz, Thrive Capital, and Institutional Venture Partners as other participants.
Though there was no official confirmation of the valuation, several media reports have valued Github at $2 Billion post this funding, giving it an entry into the league of famed unicorns. This is a significant growth compared to the $750 million valuation at the Series A round of funding which happened in 2012 led by Andreessen Horowitz.
The company will deploy this fresh capital into expanding its sales and engineering teams and most importantly “to think bigger and take larger risks” according to the CEO and co-founder Chris Wanstrath.
Guthub says that it is also looking forward to venture into international markets given the fact that 70% of their users are based outside US. Recently they also opened an office in Japan and are likely to do the same in other locations as well.
For us, GitHub is really about the developers — essentially it’s about people. What we’ve been trying to do is get more people on the ground to support these communities.
GitHub, since its inception in 2008, has become the go-to destination for software developers looking to collaborate on open-source projects by storing the codes on its servers, allowing other users to make changes and work together to write codes.
Currently, there are about 10 million users working on 25 million projects on GitHub and the number seems to be increasing day by day as more people enter into code writing.
I feel like the market is growing faster than we are at this point, to be honest.
It’s a really exciting opportunity.
Despite similar code repository services by giants like Amazon, Microsoft and more recently Google, Github continues to rule the pack with even Microsoft open-sourcing many of its projects on GitHub — most recent being .NET.
GitHub has also come up with a new GitHub Enterprise service like Amazon Web Services, for companies to use data centres on its cloud for their projects. The company reports this particular Enterprise service to be hugely successful, without disclosing exact numbers though.
GitHub continues to expand and come up with new services focused on people writing software, more right put by Cofounder Wanstrath,
Right now it’s a crazy time to be in software, because so many people want to write code.