Open Source Software Startup with Ukrainian Roots Raises $100 million in California, Becomes Unicorn

Last week GitLab, a San Francisco-based open-source software startup founded by Ukrainian entrepreneur Dmitry Zaporozhets, announced the completion of a $100 million Series D round.

Led by Iconiq Capital with participation from existing investors GV and Khosla Ventures, the round brought the valuation to “over $1 billion,” and “validated [GitLab’s] position as the world’s first single application for the entire DevOps lifecycle.”

The company said it will use the funding to “become best-in-class in every DevOps software category from planning to monitoring.”

Less than a year ago, the startup raised $20 million in a Series C round led by GV, formerly known as Google Ventures.

A previous capital injection of $20 million, involving US investors August Capital, Khosla Ventures, and Y Combinator, took place in 2016.

GitLab’s tools have been designed to help people collaborate on all digital content more effectively, scale projects across functional groups, collaborate in real-time and more easily managing workflows and version control.

Companies use GitLab “to deploy to multiple clouds, implement cloud native architectures, and practice Concurrent DevOps,” the company explains, which “results in a 200% faster DevOps lifecycle with unmatched visibility, higher levels of efficiency, and comprehensive governance.”

More than 100,000 organizations and millions of users are using these tools today, the company claims, while 2,000 contributors worldwide support its open core application.

The GitLab open source project started in Ukraine in 2011. Two years later, Zaporozhets and his partner Sid started bootstrapping GitLab as a company. Incorporated in 2014, the company went through Y Combinator in early 2015.

Git Lab

Source: Ukrainian Digital News