Chicago's run of newly minted unicorns continues as software firm Copado raises new funding.
Copado announced Monday that it raised a $140 million Series C round at valuation near $1.2 billion. The company makes DevOps software built on the Salesforce platform, helping clients accelerate the deployment of new products on Salesforce.
The latest round of funding was led by Insight Partners. Other backers include SoftBank Vision Fund 2, Declaration Partners and DG Ventures Salesforce Ventures, ISAI Cap Venture, Lead Edge Capital, Perpetual Investors and IBM Ventures.
Copado has now raised $257 million in funding to date. It last raised $96 million in February. The company, which now has more than 500 total employees, counts Coca-Cola, Dropbox and Boston Scientific among its customers.
Copado's billion dollar-plus valuation adds to Chicago's growing group of unicorn tech firms. By Chicago Inno's count, at least 13 tech companies in Chicago have confirmed or are reported to have reached the billion-dollar valuation this year, including ShipBob, Amount, Enfusion, ActiveCampaign, Relativity, G2, Project44, Cameo, Nature's Fynd, Bringg, Clearcover and M1 Finance. Large venture funding rounds have propelled Chicago's 2021 total VC funding well above what was raised in all of 2020, when companies raised almost $3 billion.
Founded in 2013 in Madrid, Spain, Copado established its Chicago headquarters in 2018.
