DuploCloud Announces $32M in Series B Funding, Accelerating DevOps Innovation and Customer Growth
‘DevOps on Autopilot’ Platform Boosts Operational Efficiency and Reduces Friction for Fast-Growing SaaS Companies and Platform Engineering Teams
Kate Pietrelli
PR
[email protected]
760-518-2633
Original Source: DuploCloud Announces $32M in Series B Funding, Accelerating DevOps Innovation and Customer Growth
SAN JOSE, Calif., November 29, 2023 (Newswire.com) - DuploCloud, the industry pioneer offering a platform engineering solution that encompasses full stack DevOps automation with built-in compliance, closed a $32 million Series B funding round, led by WestBridge Capital and StepStone Group, along with previous investor Mayfield. This significant infusion of capital is earmarked for propelling the expansion of its exceptional team and cutting-edge product development.
The new round firmly positions DuploCloud as a frontrunner in the platform engineering segment which today is largely a do-it-yourself effort by organizations hiring dozens of engineers spending millions of dollars over multiple years. This latest funding brings the company's total amount raised to $49.5 million, following a $15 million Series A round in 2022 and Seed round in 2021.
Founded in 2018 by the original engineers of Microsoft Azure and AWS, DuploCloud has driven remarkable growth, making a significant impact on the low code/no code DevOps automation and compliance landscape. Rapidly expanding its customer base over the past year, DuploCloud has become the go-to solution for organizations seeking to streamline their DevOps processes and accelerate go-to-market. DuploCloud's solution has played a pivotal role in helping companies move fast and not break things by enhancing operational efficiency, reducing friction, and promoting seamless collaboration among DevOps and developer teams.
With over 100 customers, DuploCloud has grown annual recurring revenue by an amazing 700% since its seed round in 2021 and has been recognized in the prestigious Inc. 5000 list this year, underscoring the company's ascent in the industry.
“When we started DuploCloud, DevOps teams would equate automation with DevOps engineers writing thousands of lines of Infrastructure-as-Code templates that made their own daily work more efficient while developers had no self-service and were waiting days for requested infrastructure changes,” said Venkat Thiruvengadam, CEO and founder of DuploCloud. “With the advent of platform engineering, there is a realization that developers need to be empowered. Infrastructure-as-Code won’t do it, which is why we want to make this platform available off-the-shelf so companies don’t have to spend millions of dollars and years building it themselves.”
“Over the past year, DuploCloud has further established itself as a driver of growth and product innovation in the DevOps space,” said Sumir Chadha, Managing Partner of WestBridge Capital. “We’ve been impressed with the team’s energy and commitment to helping their customers scale and succeed, and we’re delighted to support the company in the next stage of their growth.”
“DuploCloud is poised to take advantage of the tremendous growth in the DevOps automation market,” said John Avirett, partner at StepStone Group. “With their innovative solutions and outstanding executive leadership, DuploCloud has not only tapped into a crucial need within the DevOps space but is poised to lead the charge in the industry's rapid evolution, and we’re excited to see what the next several years bring in growth and opportunity for the company.”
DuploCloud’s customers span a wide range of industries, from finance, health care, retail, and public sector. The company is exhibiting at AWS re:Invent through Nov. 30, 2023. Stop by booth 451 to meet the team.
To learn more about DuploCloud, visit https://duplocloud.com/.
About DuploCloud
DuploCloud is the industry's only low-code/no-code Platform Engineering solution, designed to make DevOps and Infrastructure-as-Code accessible for all developers. Founded by the original engineers from Microsoft Azure and AWS, our software platform puts DevOps on autopilot, virtually eliminating the need for DevOps hiring and is tailor-made to empower developer self-service across growing startups, SMBs, and platform engineering teams. The DuploCloud platform translates high-level application specifications into meticulously managed cloud configurations, allowing organizations to streamline operations while maintaining rigorous security, availability, and compliance standards. Investors of the company include WestBridge Capital, StepStone Group, Mayfield and Monta Vista Capital. Learn more at https://duplocloud.com/.
Contact Information:Kate Pietrelli
PR
[email protected]
760-518-2633
Original Source: DuploCloud Announces $32M in Series B Funding, Accelerating DevOps Innovation and Customer Growth
The post DuploCloud Announces $32M in Series B Funding, Accelerating DevOps Innovation and Customer Growth first appeared on Regd News.
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