On December 10, 2021, CloudBees announced that they raised $150 million in Series F funding. This, combined with the $95 million they secured in debt facility, means that in total, the company received $245 million in funding. This brings CloudBees to a $1 billion pre-money valuation.
CloudBees is a software delivery platform with a wide range of tools, including feature management, analytics, and release orchestration. However, CloudBees is best known as a continuous integration or continuous delivery solution platform.
CloudBees was ranked highly in the Continuous Integration Tools and Continuous Delivery Software categories by reviewers on G2, becoming the front runner in both. These positive reviews led G2 to name CloudBees as one of its top 100 software products for 2021 and one of its top 50 enterprise software products for 2020 and 2021.
Continuous integration (CI) is the practice of creating and testing changes made to a codebase. CI involves developers uploading new code, or code changes, to a common code repository, which is then tested automatically at the time of upload to ensure changes do not cause issues or breaks.
Continuous delivery (CD) is a process aiming to help developers generate deployment-ready code as efficiently and quickly as possible. By facilitating short development cycles with automation, workflows, and more, CD solutions enable developers to build and execute delivery pipelines to stage software and updates.
Being listed as one of G2’s top enterprise products for 2021 is a strong position for CloudBees to be in, as the number of enterprise users reviewing CI products on G2 is on the rise.
As the chart shows, the percentage of G2 reviewers in the CI space from enterprise-sized organizations is rising. In Q4 2020, just 28% of CI reviewers came from an enterprise-sized company. By Q4 2021, however, this number had risen to 39%, a 40% YoY increase. As enterprise buyers continue to grow in importance in the CI market, CloudBees is well-positioned to capture their interest.
The company expects to use its latest round of funding for product development, attracting talent, and increasing its global presence. While it remains to be seen how this funding will impact CloudBees, it’s clear that investors believe in the organization’s future. It will be interesting to see how CloudBees’ competitors respond to these investments. However, the main takeaway may be this: investors believe in CI/CD market and are willing to spend to become a part of it.
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