GitLab, founded in 2014, offers a DevOps platform to help move applications through the programming lifecycle. The company confirmed it oversaw a $195 million secondary sale that values GitLab at $6 billion, up from a $2.75 billion valuation after its 2019 Series E. The secondary transaction bought employee stock options, allowing workers to cash in some equity prior to an eventual IPO. GitLab has raised over $434 million to date and CEO Sid Sijbrandij attributed the valuation increase to added platform functionality and progress toward a complete DevOps offering. Leadership says the company has ample runway from the 2019 raise and continues to view an IPO as a future path, though it is not committing to a timetable. The company operates as a fully remote organization and emphasizes transparency, publishing company philosophy and OKRs publicly. GitLab provides a code collaboration and DevOps platform derived from an open-source project, helping developers manage and distribute code. The company emphasizes transparency, publishing a public strategy page and a target IPO date of November 18, 2020. Its community remains active, contributing about 200 improvements to the open-source product each month—double the rate from a year earlier. GitLab says it intends to remain independent and has planned for an IPO or a direct listing next year, preserving optionality. Financially, the company has raised multiple rounds, including a $100 million Series D last September, and has hauled in more than $426 million to date. GitLab was founded in 2014 and participated in Y Combinator in 2015. GitLab is a San Francisco, CA–based single application for the entire DevOps lifecycle, enabling Product, Development, QA, Security, and Operations teams to work concurrently on the same project. Led by CEO Sid Sijbrandij, the platform provides a single data store, one user interface, and one permission model across the DevOps lifecycle to centralize collaboration. Built on open source, GitLab leverages community contributions from thousands of developers and millions of users to continuously add DevOps innovations. More than 100,000 organizations, including Ticketmaster, Jaguar Land Rover, NASDAQ, Dish Network and Comcast, use the application. The company says it will use new funding to continue developing the platform and to expand its business reach. Financially, GitLab received a $20m investment from Goldman Sachs’ Principal Strategic Investments group as part of its Series D financing. GitLab offers a full-lifecycle DevOps platform, expanding beyond source code hosting into nine product categories from planning to monitoring. The company positions itself against tools like VersionOne, Jira, Jenkins, Artifactory, Puppet, New Relic and BlackDuck while often seen as a GitHub alternative. GitLab follows an open-core model and emphasizes community co-creation of features while investing internally to finish contributions, improve performance, and unify the user interface. With the new funding, the company plans to invest most proceeds in engineering to build out existing products and launch new features such as tracing and log aggregation. CEO Sid Sijbrandij has signaled a plan to remain independent and pursue an IPO, citing transparency benefits of being public. The company tied its timing in part to Microsoft’s acquisition of GitHub, which helped accelerate its fundraising and IPO plans. GitLab is a single application built to support the entire DevOps lifecycle for product, development, QA, security, and operations teams. Built on open source, the platform provides a single data store, one user interface, and one permission model while allowing integrations with tools such as Jira and Jenkins. Its collaborative approach lets cross-functional teams work concurrently on the same project and increases visibility across workflows. GitLab is used by more than 100,000 organizations, including Ticketmaster, ING, NASDAQ, Alibaba, Sony, and Intel. The company says its single-application approach reduces cycle time and helps teams focus on building software faster. GitLab plans to partner with customers and investors to support large application teams and drive broader DevOps adoption for improved digital experiences.

Total raised

$432M

Funding rounds

7

Latest round

Series E

Latest activity

Sep 2019