Riding on the spur created by Microsoft’s Github acquisition, there’s a second DevOps platform entering the unicorn club now. After Gitlab’s $100Mn raise last month, its JFrog this time, which has announced a $165 million Series D funding round led by Insight Venture Partners. As a part of the investment, Jeff Horing, co-founder and managing director will join JFrog’s Board.
The round also witnessed participation from Battery Ventures, Spark Capital, Sapphire Ventures, Scale Venture Partners, Dell Technologies Capital, Vintage Investment Partners, and Geodesic Capital.
While the company has not revealed an exact valuation after the new funding round, JFrog CEO Shlomi Ben Haim has confirmed that the valuation is now worth “way north” of the $1 billion mark.
The funding will be used by the company to drive product innovation, support rapid expansion into new markets and accelerate both organic and inorganic growth.
In a statement, Shlomi Ben Haim, JFrog CEO, said:
Software updates need to flow seamlessly, like water running through pipes. This is what we call the ‘liquid software vision. From Git to Kubernetes and from your data center to the edge, software updates must flow anytime, anywhere, with minimal effort. The JFrog Enterprise Plus platform will enable continuous software updates and propel us to become the company behind all software updates in the universe.
JFrog, founded out of Israel in 2008, offers two core products — Artifactory and Bintray — that serve as an automated toolset for developers to manage and distribute software releases. Its self-stated mission is to provide an “end-to-end universal repository solution” for binaries, or software packages.
The platform transforms the way software is updated by offering an end-to-end, universal, highly-available software release platform for storing, securing, monitoring and distributing binaries for all technologies, enabling a continuous software release flow from code to production with zero downtime.
Since its $50 million Series C funding round in 2016, JFrog has seen more than 500% sales growth and expanded its reach to over 4,500 customers, including more than 70% of the Fortune 100. According to the company, it continues to add 100 new commercial logos per month. The company’s list of clients include Google, Amazon, Netflix, Microsoft, Facebook, Snap, Cisco, Dell, Oracle, and Airbus.