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Neuchâtel software company CloudBees becomes a unicorn

Tuesday 14 December 2021

The software distribution platform CloudBees has secured USD 150 million in series F equity financing, bringing its valuation at USD 1 billion.

CloudBees helps companies automate the development and deployment of their software. Nowadays, many companies still develop programs following a very slow pattern: coding, testing, validation, scaling and then deployment. This process can take up to eighteen months in total. CloudBees’ systems allow for continuous, frictionless development so that software is constantly being improved.

The Neuchâtel-based company has raised USD 150 million in series F equity financing, bringing its valuation at USD 1 billion. After Nexthink, Mindmaze or Wefox, CloudBees becomes the latest unicorn based in Western Switzerland (a privately held start-up company valued at USD 1 billion or more).

The latest financing round was led by client vehicles advised by Goldman Sachs Asset Management Private Credit. New investors included Morgan Stanley and Bridgepoint Capital, while HSBC, Golub Capital, and Delta-v Capital backed the company once again. CloudBees also closed a USD 95 million debt facility, which it said will “accelerate growth”.

The new capital will be used for product innovation, recruitment and talent development. It will also allow CloudBees to focus on expanding its footprint in Asia Pacific and broaden its global and regional partnerships.

Operating at immense scale in the most complex environments

Stephen DeWitt, CEO of CloudBees, said: “This investment round will help CloudBees achieve new levels of innovation, attract and grow talent, and expand globally. One thing, however, will remain the same: our hyper-focus on guiding enterprise customers – operating at immense scale in the most demanding, complex and multi-cloud environments – to reimagine the way they build their platforms for software delivery.”

Founded in 2010, CloudBees’ delivery platform is used by organizations running complex IT infrastructures, including Autodesk, Broadridge, Capital One, DZ BANK, Fidelity Investments, HSBC, IHG, Morningstar, Pegasystems, Salesforce, and more.

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