AutoRABIT raises $14.5M to accelerate go-to-market and product development
Premier technology growth equity investor Full In Partners announced that it has led a significant follow-on investment in existing portfolio company, AutoRABIT. The leading provider of Salesforce release management platform for regulated industries, AutoRABIT is trusted by top development organizations at Anthem, Wells Fargo, Blue Cross Blue Shield, Aetna, Intuit, and many others.
The $14.5M in new funding is a combination of equity from Full In and debt from Bridge Bank and comes on the heels of a transformative year for AutoRABIT. The company recently acquired CodeScan, a premier player in code quality, compliance and security analysis for the Salesforce developer community and is seeing net new ARR growth of upwards of 100% from 2020.
Proceeds from this financing will help to further accelerate go-to-market as well as new product development that better enable Salesforce customers to accelerate development while enhancing security and compliance.
“Since their initial investment in February 2020, Full In has been instrumental in supporting our management team buildout, financial planning, and most recently our M&A and debt processes,” commented Vishnu Datla, Founder and CEO of AutoRABIT. “This latest investment will help us to accelerate our customer’s digital transformation journey with a shift-left strategy. With the recent increase of cyber attacks and ransomware, security and compliance have become primary concerns for regulated industries like banking and healthcare.”
“We’re excited to deepen our commitment to AutoRABIT with this follow-on financing,” added Elodie Dupuy, Managing Director and Co-Founder at Full In. “The company is currently going through an exciting acceleration in its growth, and we look forward to deploying further strategic and operational resources to help them capitalize on the current market opportunity.”