Gitlab rasied about $100 million in its latest funding round with valuation at $1.1 billion. The round was led by Iconiq Ventures - the venture capital firm best known for managing Mark Zuckerberg's money. Major players in funding round were khosla ventures and GV, a capital venture division of Alphabet.
This all comes after Microsoft's acquisition of Github for $7.5 billion in mid of this year. About 100,000 code repos were shifted to Gitlab, as some programmers were concerned about how Microsoft -- historically critical of open-source tools like GitHub and GitLab -- would change the platform as its new owner.
As a result, this attracted a lot of attraction to this space, with companies like PagerDuty, Puppet Labs, CloudBees, and now GitLab taking in sizable rounds of funding in the aftermath.
Going forward, the company plans to invest the cash in product development, it said in a press release.For its part, GitLab has a slightly different approach, selling primarily to companies small and large. Unlike its rivals, GitLab's core product is a version that can be installed on a company's own servers. That, in turn, gives companies greater peace of mind about where and how their important programming code is kept.Notably, Gitlab doesn't have any office space, it is ran by the developers contributing around the world.
very interesting share, wonder if we can invest in Gitlab?