Investments

Continuous Delivery Platform CircleCI Nets $100M In Series E

CircleCI closes $100M funding round

Continuous delivery platform CircleCI has raised $100 million in a Series E funding round, according to TechCrunch.

The round was led by IVP and Sapphire Ventures, and under the deal's terms, Cack Wilhelm of IVP will join the board while Sapphire's Jai Das will join as an observer.

Last summer, CircleCI raised $56 million.

The total amount raised by the company is now $215 million, company officials said, declining to discuss the overall valuation.

CEO Jim Rose said it was a blessing to have the money, especially given the chaotic conditions of recent months due to the coronavirus pandemic. He said it was a good time to have "more brains around the table, not fewer."

Rose said he sees a ripe area for new growth in the recent move to more remote work opportunities, as CircleCI helps with automation. Many people have had to shift to working from home so as to avoid transmitting or catching the coronavirus that has caused thousands of deaths in just the past week.

He said the move to more telework-style operations had DevOps teams feeling a new "urgency" for CircleCI's services in recent weeks. The new investments from the funding round, then, will go toward helping with maintaining that surge in operations.

Companies doing as well as CircleCI tend to look toward an initial public offering (IPO), although Rose acknowledged that the current economic climate has made it less likely to happen for his company for the time being. He said the company would have to get some level of liquidity at some point, but the focus for now would be on helping customers and building the business even more — at least until the market becomes more predictable again.

Rose said CircleCI would eventually look at acquisitions with its new base of capital, although he didn't make any commitments except that the company is "always looking around" at what is happening in the field.

——————————

LIVE PYMNTS TV OCTOBER SERIES: POWERING THE DIGITAL SHIFT – B2B PAYMENTS 2021 

Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border.

Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

TRENDING RIGHT NOW