Software startup with Ukrainian roots raises $20 million round led by GV

Last week GitLab, a San Francisco-based open-source software startup founded by Ukrainian entrepreneur Dmitry Zaporozhets, announced the completion of a $20 million Series C round led by GV, formerly known as Google Ventures.

The capital injection follows a $20 million Series B round from US investors August Capital, Khosla Ventures, and Y Combinator raised in September 2016.

As of today, the startup has managed to attract $45.6 million in total.

The new funding will be used to add “new functionality for packaging, releasing, configuring and monitoring software,” the startup told TechCrunch.

GitLab’s set of tools allows people to collaborate on all digital content more effectively, scaling projects across functional groups, collaborating in real-time and more easily managing workflows and version control.

“GitLab’s platform accelerates the development process with an emphasis on collaboration and automation. GitLab’s hybrid, multi-cloud solution is loved by developers, and is seeing tremendous traction in the field,” said Dave Munichiello, GV General Partner.

Meanwhile, Matt Mullenweg, founder of WordPress, has joined the team as a new board member.

The company claims that over 100,000 organizations and millions of users are using GitLab today. Its community includes over 1,800 contributors worldwide.

GitLab’s client portfolio includes such companies as Sony, NASA and NASDAQ.

As reported by TechCrunch, “the company does face competition from the likes of GitHub and Atlassian’s BitBucket, though GitLab argues that its tools currently represent two-thirds of the self-hosted git market.”

The GitLab open source project started in Ukraine in 2011. Two years later, Zaporozhets and his partner Sid started bootstrapping GitLab as a company. Incorporated in 2014, the company went through Y Combinator in early 2015.

The remote-only company’s team consists of over 140 people worldwide.

Source: GitLab (1, 2), CrunchBase, TechCrunch.

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Topics: Finance, International, News, Software, Startups, Venture/Private equity
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