CloudBees raises more than $120M in funding

CloudBees, an enterprise DevOps leader powering the continuous economy, announced that it has secured a $10 million capital investment from HSBC, one of the world’s largest banking and financial services organizations. This announcement is a follow-on to CloudBees’ recent $62 million growth capital round last year, bringing total funding in the company to over $120 million.

HSBC currently uses CloudBees Core platform technologies to accelerate its overall software delivery system. HSBC said the investment in CloudBees underscores the importance of DevOps in the bank’s business and technology future.

“We invest in technologies which are strategically important to our business, and which help us serve our customers better,” said Dinesh Keswani, chief technology officer, Shared Services, HSBC.

“The DevOps market is growing fast, as organizations like us drive automation, intelligence and security into the way we deliver software. CloudBees is already a strategic business partner of HSBC; we are excited by our investment and by the opportunity to be part of the story of continuous delivery.”

The $4.61 billion DevOps industry is growing rapidly as companies rely more and more on software to continuously improve their products and overall business. CloudBees serves growing enterprise demand for governance, flexibility and scale by offering an end-to-end continuous software delivery system designed to accelerate development and delivery while minimizing risk.

An estimated 15+ million software developers use Jenkins to automate their software delivery pipelines, and 46 of Fortune 100 enterprises, including three of the Fortune 10, use the CloudBees Suite to transform their businesses for the continuous economy.

“This investment is indicative of the importance leading companies, such as HSBC, are placing on DevOps,” said Sacha Labourey, CEO and co-founder of CloudBees. “DevOps is the new way to deliver software, enabling organizations to deliver software at the speed of ideas, and allowing organizations to respond more quickly to customer needs and market demands.”

Labourey said CloudBees will use the funding by HSBC to bring new innovation to the DevOps market through its modern software delivery suite, grow its strategic partnerships and accelerate its global business growth organically and through M&A.

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