Announcing $268 million in Series E funding

GitLab has successfully raised $268 million in a Series E funding round, elevating the company's valuation to $2.75 billion, led by existing investors Goldman Sachs and ICONIQ, along with nine new investors. The funding is aimed at enhancing GitLab's DevOps platform offerings, including monitoring, security, and planning, to help enterprise customers accelerate product market entry. With the DevOps tools market predicted to reach $15 billion by 2023, GitLab's CEO Sid Sijbrandij highlights the competitive advantage of a unified DevOps application that fosters collaboration among development, operations, and security teams. GitLab currently serves over 100,000 organizations, has experienced a 143% annual recurring revenue growth rate, and was ranked 32nd in the Forbes 2019 Cloud 100 as the only cloud-agnostic DevOps tool maker. The company has grown from fewer than 10 employees in 2015 to more than 800 team members across 55 countries, with over 4,800 active code contributors and an average of 180 improvements per monthly release. The latest funding was announced during GitLab Commit, the company's first user conference, showcasing the journey and customer-driven innovation that have fueled its rapid growth.

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