CircleCI Reaches $1.7 Billion Valuation With $100 Million in New Financing

Greenspring Associates leads Series F financial round as demand for the leading CI/CD provider explodes, topping 2.5 million jobs processed per day

CircleCI, the leading continuous integration and continuous delivery (CI/CD) platform, announced it has closed $100 million in Series F financing. CircleCI has raised $315.5 million since 2011, with this latest round bringing the company’s valuation to $1.7 billion.

“With experienced veterans from Netflix, SAP, RetailNext, and others — CircleCI is well-positioned to continue on its impressive trajectory, and I look forward to helping make an impact.”

This round was led by Greenspring Associates with participation from Eleven Prime, IVP, Sapphire Ventures, Top Tier Capital Partners, Baseline Ventures, Threshold Ventures, Scale Venture Partners, Owl Rock Capital, and Next Equity Partners.

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“This new capital will allow us to double down on our focus: offering a best-in-class CI/CD platform to increase developer productivity,” said Jim Rose, CEO, CircleCI. “It also opens doors for business growth opportunities in three areas that we see as the next frontier of software development: continuous validation, data and insights, and managing software complexity.”

Research proves that software tools like CircleCI – those that enable greater productivity, visibility, and coordination, are the top contributor to business success. CircleCI helps one million developers and growing to rapidly release code they trust by automating the build, test, and delivery process. As nearly every company in every industry becomes software-based, the pace of change is set to increase.

“CircleCI’s leading CI/CD platform addresses a critical need for business success in today’s digital-first world. Nobody knows developers quite like CircleCI does, and their ability to empower developers to validate change in increasingly complex software delivery environments is unmatched,” said John Avirett, General Partner, Greenspring Associates. “We invest in leading-edge companies that help their customers work better and deliver value faster and are thrilled to be part of CircleCI’s next phase of growth.”

Stacey Epstein, known for her involvement in iconic Software-as-a-Service brands, will also join CircleCI’s board of directors.

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“I’ve been in the enterprise software industry for years and can tell what makes a winning company at this stage. CircleCI has that special combination of massive opportunity and an incredibly strong leadership team that can execute,” said Stacey Epstein, CMO, Freshworks, and newest member of CircleCI’s board of directors. “With experienced veterans from Netflix, SAP, RetailNext, and others — CircleCI is well-positioned to continue on its impressive trajectory, and I look forward to helping make an impact.”

The round comes at the same time as CircleCI’s acquisition of release orchestration platform, Vamp, further propelling the leading CI/CD provider to help the world’s engineering teams automate software delivery at scale.

Since CircleCI’s $100 million Series E in April 2020, the company has demonstrated strong momentum including:

• A significant platform usage increase, topping 2.5 million jobs processed per day.
• Doubling their global employee headcount to 550 and growing.
• Major product additions including the CircleCI Insights dashboard, CircleCI runner, and dynamic config, along with added support for Arm, all to further automate the build, test, and release processes so engineering teams can ship software faster and more securely.
• The release of educational resources for software teams to increase productivity including The 2020 State of Software Delivery, which details the first-ever benchmarks for high-performing CI/CD, and the CircleCI Developer Hub, an all-in-one CI/CD resource for developers containing an array of efficiency and best-in-class CI/CD tools.
• Ranking No. 242 with a 467 percent Compound Annual Growth Rate (CAGR) on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest-growing technology companies in North America.
• Featured in Forbes ‘Tech Firms to Watch’ and ‘Best American Employers’ lists.
• Winning a 2021 DEVIES Award for ‘Best Innovation in Development Platforms’ and being recognized as ‘Best CI/CD Tool’ in the 2020 DevOps Dozen awards.
• Recognition as a finalist in the ‘DevOps Tool / Product of the Year’ category for Computing’s DevOps Excellence Awards 2021.