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Software development startup XebiaLabs lands $100m in new funding

XebiaLabs, a Burlington startup that helps large companies roll out complex software programs, said Monday that it had raised $100 million in its latest round of investment.

The fund-raising haul vaults the company into the upper echelon of Boston-area startups, in terms of venture investment, and highlights the increasing interest in the field of DevOps, which seeks to align the development of applications with the people who will operate them.

In an interview, XebiaLabs chief executive Derek Langone said even companies that are not traditional computing businesses can spend millions of dollars annually on software. He said XebiaLabs has helped its clients — including General Electric, Air France KLM, and KeyBank — use that money more effectively.

XebiaLabs, a Burlington startup that helps large companies roll out complex software programs, said Monday that it had raised $100 million in its latest round of investment.

The fund-raising haul vaults the company into the upper echelon of Boston-area startups, in terms of venture investment, and highlights the increasing interest in the field of DevOps, which seeks to align the development of applications with the people who will operate them.

In an interview, XebiaLabs chief executive Derek Langone said even companies that are not traditional computing businesses can spend millions of dollars annually on software. He said XebiaLabs has helped its clients — including General Electric, Air France KLM, and KeyBank — use that money more effectively.

 

XebiaLabs, a Burlington startup that helps large companies roll out complex software programs, said Monday that it had raised $100 million in its latest round of investment.

The fund-raising haul vaults the company into the upper echelon of Boston-area startups, in terms of venture investment, and highlights the increasing interest in the field of DevOps, which seeks to align the development of applications with the people who will operate them.

In an interview, XebiaLabs chief executive Derek Langone said even companies that are not traditional computing businesses can spend millions of dollars annually on software. He said XebiaLabs has helped its clients — including General Electric, Air France KLM, and KeyBank — use that money more effectively.

“Every big corporation has become a software company. It’s fundamental to their business, whether they’re in banking, they’re an airline, they’re a health insurer, whatever,” Langone said. “So getting more efficient about building and delivering software to their own customers as well as their internal consumers has been mission critical.”

XebiaLabs has now raised about $122 million since it was founded in 2008 and has about 140 employees, 45 of whom are in Massachusetts. The privately owned company declined to release financial results but it said it made money in 2017, when its new business more than doubled.

Investors in the latest funding round included Susquehanna Growth Equity, a growth-stage investor, and the venture firm Accel, which has invested in Facebook, Spotify, Etsy, and other companies.

In a statement, Susquehanna director Martin Angert said he was struck by XebiaLabs’s “deep understanding of the challenges specific to enterprise software delivery.”

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