DevOps startup JFrog announced this morning a fundraising of $50 million, which it claims is likely the largest fundraising ever by a DevOps startup. DevOps is essentially the automation of the process of developing, testing, and deploying software to enable multiple software modifications and still maintain speed of innovation and deployment. JFrog makes a good case that it is one of the leaders, if not the leader, in DevOps business. The new funding round includes Scale Venture Partners, Sapphire Ventures, Battery Ventures, Vintage Investment Partners and Qumra Capital, in addition to existing investors. JFrog has grown considerably with just $12 million of venture capital in its previous two rounds. CEO Shlomi Ben Haim told the Daily Cloud that the valuation in the new round is four times the previous valuation, but declined to disclose actual figures. On revenue, he said JFrog’s current revenue run rate is over $20 million, a substantial jump from the $5.2 million in revenue that JFrog reported for 2014 to Inc Magazine
Artifacts are usually tied to specific components within a software structure, which can make the interconnection of all these components immensely complex and difficult to understand or follow. Hence there is a need for tools like JFrog, which, the company claims, is the "only universal Artifact Repository Manager on the market" and will support any software packages created by any language or technology. According to the company, JFrog currently has around 1,500 paying customers, 100 employees worldwide, and more than 800 million software package downloads a month.