XebiaLabs, a Burlington-based software company that's been around for almost 10 years, has secured a Series B growth investment of over $100 million from Susquehanna Growth Equity and Accel, along with many existing shareholders.
The new money will enable the company to serve increasing enterprise demand, as well as to make new hires driving further research and development. "We wanted to expand our partnerships and bring more engineers in,” Derek Langone, CEO of XebiaLabs, said to TechCrunch.
As part of the investment, Martin Angert, director at Susquehanna Growth Equity, and Arun Mathew, partner at Accel, will join XebiaLabs’ board of directors.
The company, which helps IT teams develop and deploy software more simply and quickly, said it has closed 2017 growing by 117 percent as the company added dozens of new customers, including Bank of America, Toyota, Alliance, TD Bank and NASA. Headquartered in the greater Boston area since 2008, XebiaLabs has now four offices in Europe and one in India, for a total of around 150 employees.
The company's latest round of funding goes back to 2014, when XebiaLabs raised $14 million from Washington, D.C.-based Updata Partners.
Currently, there are six openings in the company’s Burlington office, mainly in the sales and marketing departments. Less than a month ago, XebiaLabs added a former Forrester analyst to its C-suite as chief product officer.
"This past year was our strongest to date, and today’s investment will perfectly position us to lead a new era where the essential focus is on scaling DevOps across the enterprise,” Langone said in a statement. “Tapping into the experiences of these exceptional VC firms, who have guided software industry leaders such as Facebook, Dropbox, Slack, Cloudera, PagerDuty, and Atlassian, will be invaluable as we work with them to define the future of enterprise DevOps."
