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DevOps platform GitLab raises $268M in latest funding round

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DevOps platform GitLab raises $268M in latest funding round

DevOps platform provider GitLab Inc. secured $268 million in a series E funding round that valued the company at $2.75 billion.

Technology investment firm Iconiq Capital LLC and Goldman Sachs Group Inc. led the funding round, together with existing investor Y Combinator Continuity Fund. New investors Adage Capital Management LP, Alkeon Capital, Altimeter Capital, Coatue, D1 Capital Partners LP, Franklin Resources Inc. d/b/a Franklin Templeton, Light Street Capital, Tiger Global Management LLC and Two Sigma Ventures also participated in the round.

San Francisco-based GitLab, which plans a public float in 2020, will use the fresh capital to further develop its platform and hire more staff across product, marketing, sales and administrative functions.

The latest funding round brings GitLab's total capital raised to $426 million.