The COVID-19 pandemic, distributed virtual workforces and an unpredictable economy have forced companies to adopt DevOps platforms to transform their businesses digitally.
Fremont, CA: Native DevOps platform for Salesforce, Copado, secured USD 26 million in a Series B funding round led by Insight Partners who also led Copado's Series A round. The investment round was also participated by existing investor Salesforce Ventures and new partners Lead Edge Capital, ISAI Cap Venture (Capgemini and ISAI joint fund), and Perpetual Investors. The latest round of investment takes the company's total raised capital to USD 47 million. Copado continues its exponential growth trajectory after doubling its revenue and tripling its headcount in 2019.
"We are building a foundation for growth based on real customer pain points that we can successfully solve for nearly any Salesforce implementation," said Ted Elliott, Chief Executive Officer for Copado. "It is a critical time for businesses in every industry. They need native tools, the right staff, intelligent analytics, and the key performance metrics to optimize their digital transformation projects. Copado offers the complete package to successfully implement a digital go-to-market strategy for any company."
The company will use the proceeds from the investment round to expand global distribution and accelerate product innovation, including its new DevOps analytics platform, DevOps 360. The COVID-19 pandemic, distributed virtual workforces and an unpredictable economy have forced companies to adopt DevOps platforms to transform their businesses digitally. These seismic events have redefined executive expectations on the speed, quality, and visibility their technology investments must deliver to enable rapid business pivots and effectively disrupt markets.
"Using DevOps to deliver high-quality software releases with speed and trust is more critical than ever as companies adjust to a COVID world," said Nikitas Koutoupes, Managing Director at Insight Partners and Copado board member. "Remote work and digital customer engagement are the new normal. DevOps helps delivery teams increase release velocity and quality to support new digital strategies. By bringing those tools to Salesforce -- the #1 customer relationship platform -- Copado is fast becoming a must-have technology for any company looking to meet the accelerated digital transformation demands. We are excited to continue our partnership with the Copado team as they scale to deliver the in-demand tools and training for the fourth industrial revolution."