Ukrainian Startup GitLab Raises $268 Million
As part of the E seed round, GitLab, a startup from Ukraine, raised $268 million in funding. So far, the company raised $426 million, which incorporates funding from the latest E seed round.
The list of investors features some prominent names, including Goldman Sachs Investment Bank, Iconiq Capital and Y Combinator venture fund to name a few.
GitLab itself was valued at $2.7 billion. The startup will invest the funding it raised into its platform development, with a particular focus on monitoring, security and planning. The company announced that its goal is to become one-of-a-kind in its niche.
GitLab services over 100,000 corporate clients worldwide, including Ask Media Group, Charter Communication, Delta Air Lines, Goldman Sachs, Ticketmaster, Nvidia and others. The company employs 800+ people from 55 countries.
As of now, GitLab has 222 open job positions that the company plans to fill as soon as possible. In addition, the startup is planning its IPO for November 18, 2020.
GitLab aims to build an all-in-one platform that would meet all developers’ needs and allow to bypass integration with various services such as Jira, GitHub, New Relic or BlackDuck.
One of GitLab’s co-founders is Dmytro Zaporozhets (Kharkiv, Ukraine). He started his part-time career at GitLab in 2011. Eventually, he decided to create an alternative to GitHub, which could be installed on the company’s server because the analogs were usually too expensive.
In 2013, Dutch entrepreneur Sid Sijbrandij joined the startup as a co-founder to manage the team on a full-time basis.