GitLab, the software company that is an open source Git repository manager, has managed to raise $20 million in the series C funding. The funding round was led by GV, formerly known as Google Ventures.
GitLab is an open source end-to-end software development platform with built-in version control, issue tracking, code review, continuous integration/continuous delivery and more. In the past few years it has expanded into source-code management, automation tests and application monitoring systems.
Over 100,000 companies worldwide are currently using GitLab’s DevOps platform for developers. This funding round brings the total funding of the company to more than $45.5 million. According to the company, the funding will help them build products that will help more than just serving as a place for companies to host their code repositories. GitLab plans to create more products that will help streamline and manage the process of getting code into production and then maintaining it, as well as add new features for “packaging, releasing, configuring and monitoring software.”
“The Fortune 500 is racing to build world-class software development organizations that mirror the speed, productivity and quality of the largest tech companies,” said David Munichiello, GV general partner, in a statement. “As these organizations strive to produce high-quality code at scale, they will need best-in-class tools and platforms. GitLab’s platform accelerates the development process, with an emphasis on collaboration and automation. GitLab’s hybrid multi-cloud solution is loved by developers and is seeing tremendous traction in the field.”
GitLab’s existing investors are Y Combinator, Khosla Ventures and August Capital.
Along with this announcement, GitLabs announced that WordPress Founder Matt Mullenweg has joined GitLab’s Board of Directors to improve the firms’ open-source strategy.
“GitLab’s powerful momentum and scaling have a lot of parallels to Automattic and WordPress in their early days,” said Mullenweg. “WordPress had to battle a lot of competitors and ultimately came out on top as a successful company on an open-source business model. I hope to help GitLab achieve the same triumph. Fundamentally, I want to help create the kind of Internet that I want to live in and I want my children to live in, one that reaches a global audience and one that is able to make a difference.”