Chicago – June 18, 2020 – Copado, a leading native DevOps platform for Salesforce, today announced $26 million in series B funding, bringing the total raised to $47 million. The financing was led by Insight Partners who also led Copado’s Series A round, with participation from existing investor Salesforce Ventures and new partners Lead Edge Capital, ISAI Cap Venture (Capgemini and ISAI joint fund), and Perpetual Investors. Copado will use the new funding to expand global distribution and accelerate product innovation, including its new DevOps analytics platform, DevOps 360.
The impact of COVID-19, distributed virtual workforces and an unpredictable economy are forcing companies to adopt DevOps platforms to digitally transform their businesses. These seismic events have redefined executive expectations on the speed, quality and visibility their technology investments must deliver to enable rapid business pivots and effectively disrupt markets.
Copado continues on an exponential growth trajectory. In the last year, the company more than doubled its revenue, tripled its headcount, expanded operations globally, and launched programs expected to train more than 10,000 Copado certified DevOps professionals in 2020. More than 500 market and brand leaders, including Amgen, Conga, Cox Communications, KUKA, Linde, Orange S.A., The Coca-Cola Company and the U.S. Department of Veterans Affairs, trust Copado to deliver digital transformation projects on time with the highest levels of trust and quality.
“Using DevOps to deliver high-quality software releases with speed and trust is more critical than ever as companies adjust to a COVID world,” said Nikitas Koutoupes, Managing Director at Insight Partners and Copado board member. “Remote work and digital customer engagement are the new normal. DevOps helps delivery teams increase release velocity and quality to support new digital strategies. By bringing those tools to Salesforce — the #1 customer relationship platform — Copado is fast becoming a must-have technology for any company looking to meet the demands of accelerated digital transformation. We are excited to continue our partnership with the Copado team as they scale to deliver the in-demand tools and training for the fourth industrial revolution.”
“We are thrilled to strengthen our relationship with Copado and look forward to helping accelerate its growth,” said Terence Goudriaan, Head of the Digital Customer Experience practice in Europe at Capgemini. “Copado’s ability to provide a consistent development and deployment process and being the single source of truth for delivery, combined with Capgemini’s expertise in managing complex digital transformation programs is a strong assurance for client success.”
Copado is redefining how to measure success on the Salesforce platform with its data-driven approach to delivering faster, higher quality releases and improving trust across customer transformation projects. As Salesforce continues to lead the market in digital transformation, the technical sophistication and the size of the delivery teams continues to grow exponentially resulting in the need for a more disciplined delivery process based on DevOps best practices. Organizations that implement DevOps best practices have been shown to deploy more often, fail less often and recover faster.
“We are building a foundation for growth based on real customer pain points that we can successfully solve for nearly any Salesforce implementation,” said Ted Elliott, Chief Executive Officer for Copado. “It is a critical time for businesses in every industry. They need the native tools, the right staff, the intelligent analytics and the key performance metrics to optimize their digital transformation projects. Copado offers the complete package to successfully implement a digital go-to-market strategy for any company.”
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
Founded in 2013, Copado is a leading DevOps platform for Salesforce. For enterprises wanting to accelerate their Salesforce deployments, Copado simplifies the release process, increases developer productivity and maximizes return on investment. The platform is comprised of Agile Planning, Release Management and Compliance & Testing. Backed by Insight Venture Partners and Salesforce Ventures, Copado counts more than 250 enterprises as customers, including Fair Trade, MassMutual, Shell and Vlocity. With more than 50 million transactions per month, Copado has received the top rating of 100 percent positive feedback on Salesforce AppExchange. More information can be found at: https://www.copado.com/