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Israeli DevOps platform JFrog raises $165 million with valuation over $1 billion

DevOps platform JFrog has raised $165 million in a series D round of funding led by Insight Venture Partners, with participation from Battery Ventures, Spark Capital, Sapphire Ventures, Scale Venture Partners, Dell Technologies Capital, Vintage Investment Partners, and Geodesic Capital.

JFrog, the universal DevOps technology leader, is announcing a $165 million Series D funding round led by Insight Venture Partners. Jeff Horing, co-founder and managing director will join JFrog's Board. The secured funding will drive JFrog product innovation, support rapid expansion into new markets and accelerate both organic and inorganic growth. The company hasn’t revealed an exact valuation following this raise, but according to VentureBeat valuation is “way north” of the $1 billion mark.

As revolutions like microservices and containers have fundamentally transformed how software is built, packaged and shipped, DevOps has become the only viable way for organizations to release more software faster. Consequently, software packages (binaries) have become the most important asset in the DevOps lifecycle. The proliferation of connected edge devices and the Internet of Things (IoT), alongside DevOps methodologies, creates an explosion of binaries, which can quickly overwhelm Git-based source code repositories.

"Software updates need to flow seamlessly, like water running through pipes. This is what we call the 'liquid software vision,'" said Shlomi Ben Haim, JFrog CEO. "From Git to Kubernetes and from your data center to the edge, software updates must flow anytime, anywhere, with minimal effort. The JFrog Enterprise Plus platform will enable continuous software updates and propel us to become the company behind all software updates in the universe."

JFrog transforms the way software is updated by offering an end-to-end, universal, highly-available software release platform for storing, securing, monitoring and distributing binaries for all technologies, including Docker, Go, Helm, Maven, npm, Nuget, PyPi, and more. This enables a continuous software release flow from code to production with zero downtime.

"In the rapidly growing software industry there is a real need for continual software updates, which is captured by JFrog's Liquid Software Vision," said Jeff Horing, co-founder and managing director at Insight Venture Partners. "JFrog is the next promising software infrastructure company that's going to revolutionize the way software is updated and we're looking forward to partnering with the JFrog team to capitalize on its impressive growth and industry momentum."

More than 5 million developers use JFrog Artifactory as their system of record when they build and release software. Developers deserve the freedom of choice throughout the DevOps lifecycle, from code to production, to avoid vendor lock-in. JFrog's seamlessly integrated ecosystem of partners is radically universal, providing enterprise-grade technology integrations. JFrog further supports multiple deployment options, with its products available in a hybrid model; on-premise; and across the major cloud platforms: Amazon Web Services [AWS], Google Cloud Platform [GCP] and Microsoft Azure.

"JFrog's team has done a very good job of developing highly-regarded tools by collecting and acting on customer input," said leading research firm IDC [International Data Corporation]. "JFrog has the potential to become a DevOps system of record for large organizations that want to standardize on certain DevOps functions... in an integrated, seamless, secure, and automated manner."

Since its Series C funding round in 2016, JFrog has seen more than 500% sales growth and expanded its reach to over 4,500 customers, including more than 70% of the Fortune 100. JFrog continues to add 100 new commercial logos per month and supports the world's open source communities with its Bintray binary hub. Bintray powers 700K community projects distributing over 5.5M unique software releases that generate over 3 billion downloads a month.

Joining Insight Venture Partners in the latest investment round were new investors Silicon Valley funds Spark Capitaland Geodesic Capital, as well as existing investors including Battery Ventures, Sapphire Ventures, Scale Venture Partners, Dell Technologies Capital and Vintage Investment Partners. Additional JFrog investors include Gemini VC Israel, Qumra Capital and VMware.

#Startup #Israeli #Fundraising


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