mabl announced the addition of mobile application testing to its platform.
DigitalOcean closed a $50 million Series C funding round led by Access Industries, with participation from Andreessen Horowitz (a16z).
The funding follows the $320 million debt financing in February and brings DigitalOcean’s equity valuation to $1.15 billion.
“We are excited about this investment to support DigitalOcean as it enters its next phase of significant growth,” said Pueo Keffer, Managing Director at Access Industries. “We remain extremely impressed with the company and its management and believe that both are well positioned to transform the cloud space for developers and SMBs in the years ahead.”
“We are delighted to extend our partnership with Access and a16z and see this capital as adding strength to our balance sheet enabling us to better serve our customers’ demand for our platform, especially during COVID-19 where we are seeing an acceleration of businesses transitioning to the cloud,” said Yancey Spruill, CEO at DigitalOcean. “We are now freed up to focus on accelerating revenue growth, transitioning to free cash flow profitability in 2020 and positioning our company ultimately to be a public company.”
Founded in 2012, DigitalOcean is a high-growth business with $300M in annual recurring revenue, serving more than 500,000 customers globally, with nearly two-thirds located outside the U.S. The company has created a strong niche in the $200 billion cloud market by catering to developers, entrepreneurs and small businesses who opt to use DigitalOcean’s easy-to-use, affordable and scalable infrastructure over complex and cost-prohibitive options provided by others in the market.
Industry News
Spectro Cloud announced the achievement of a new Amazon Web Services (AWS) Competency designation.
GitLab announced the general availability of GitLab Duo Chat.
SmartBear announced a new version of its API design and documentation tool, SwaggerHub, integrating Stoplight’s API open source tools.
Red Hat announced updates to Red Hat Trusted Software Supply Chain.
Tricentis announced the latest update to the company’s AI offerings with the launch of Tricentis Copilot, a suite of solutions leveraging generative AI to enhance productivity throughout the entire testing lifecycle.
CIQ launched fully supported, upstream stable kernels for Rocky Linux via the CIQ Enterprise Linux Platform, providing enhanced performance, hardware compatibility and security.
Redgate launched an enterprise version of its database monitoring tool, providing a range of new features to address the challenges of scale and complexity faced by larger organizations.
Snyk announced the expansion of its current partnership with Google Cloud to advance secure code generated by Google Cloud’s generative-AI-powered collaborator service, Gemini Code Assist.
Kong announced the commercial availability of Kong Konnect Dedicated Cloud Gateways on Amazon Web Services (AWS).
Pegasystems announced the general availability of Pega Infinity ’24.1™.
Sylabs announces the launch of a new certification focusing on the Singularity container platform.
OpenText™ announced Cloud Editions (CE) 24.2, including OpenText DevOps Cloud and OpenText™ DevOps Aviator.
Postman announced its acquisition of Orbit, the community growth platform for developer companies.
Check Point® Software Technologies Ltd. announced new email security features that enhance its Check Point Harmony Email & Collaboration portfolio: Patented unified quarantine, DMARC monitoring, archiving, and Smart Banners.