Boston-based software startup XebiaLabs, which specializes in automating DevOps functions, has announced a significant \(100 million Series B investment led by Susquehanna Growth Equity and Accel. This latest funding brings the company's total raised to an impressive \)121.5 million.
Derek Langone, Xebia’s CEO, stated that this new influx of capital was essential for their growth aspirations. “We wanted to expand our partnerships and bring more engineers on board,” he said. This fresh funding will enable the company to broaden its reach and bolster its customer support.
As companies become increasingly reliant on software solutions, managing these systems becomes a complex and time-consuming task for businesses of all sizes. XebiaLabs aims to simplify this process by automating DevOps functions, freeing up skilled engineers to focus on higher value tasks instead of manual coding chores. By doing so, the company helps its clients save both time and money.
Xebia’s software creates a significant portion of the underlying code for customers, saving them from having to do it manually. As applications become more complex and are hosted in both cloud and on-premise environments, this level of complexity increases the amount of manual work required, making XebiaLabs an attractive partner for large enterprises such as Bank of America, Keybank, GE, and United Health.
With a customer base that now numbers 200 organizations, Xebia has managed to grow its revenue by 117% year over year in the last fiscal period. This impressive performance is likely what caught the attention of investors, who have entrusted the company with an eye-catching $100 million Series B investment at a time when many startups are struggling to prove product-market fit.
Established in 2008, long before DevOps became widely adopted by companies worldwide, Xebia has been providing its services for over a decade. As the company continues to expand and attract new customers, it is poised to further solidify its position as a trusted partner for businesses navigating the increasingly complex world of software solutions.
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