GitLab successfully raised a whopping amount of 20 Million USD through Series C funding with the objective to support the developments of applications that focuses on Kubernetes.
This Git Repository for Open source applications holds 2/3 share of the enterprise business. As stated by the company officials, this funding will be completely used for the development of niche software and applications.
About the company and its standing in the market
GitLab was set up in the year 2014 and as on date, more than 10,000 companies across the globe are using its products. This company majorly serves tools for Git Repository Management.
However, the company has expanded its actions in areas like Source Code management Code Review, Application Monitoring systems as well as Automation Testing. With the launching of the tools, targeted on DevOps, the company now olds names like ING, Ticketmaster, Alibaba, NASDAQ, and Sony in its clientele.
How the company plans to utilize the fund that it raised?
Speaking about the Fund Raising, the Company official stated that it will be utilized for the development of niche Applications for the Developers. In addition, the company holds a plan to add new sets of functionalities for Configuring, Packaging, Releasing as well as Monitoring Software.
This company has already raised more than 45 Million USD and had taken over Gitter and Gitorious. These parties were engaged in the services of developing Chat Platform and tools for op-source infrastructure, respectively.
In addition to the announcement for the Fundraiser, the company announced the entry to Matt Mullenwang to the company’s executive board. Mr. Mullengang is the founder of WordPress and his inclusion in the executive board is likely to improve the company’s strategy on One-source development.
All these are happening to accomplish the objective of the company to become the most coveted provider for Kubernetes-based software. This application is meant to serve automation process that relates to deployment, scaling as well as to the management of applications and systems that are containerized.
Within a very short span, GitLab has really made it big to emerge as one of the most reliable providers of Open-source applications. Should its plans and programs head in the right direction, the standing of the company is likely to grow stronger and more formidable?
Should the company taste success in its endeavor? Well, time will have the final verdict. However, considering the massive advancement that the company has made within a short span, there is every reason to be an optimist about its success.