Israeli software development acceleration platform for DevOps teams Incredibuild today announced the completion of a $35 million Series B financing round led by Hiro Capital and with the participation of Insight Partners, the biggest investor in the company.
Incredibuild was founded in 2002 and operated profitably for many years without external funding. In 2018, Fortissimo bought over 90% of the company for $30 million from founders Uri Mishol and Uri Shaham and appointed Tami Mazel-Shachar, a former co-president of NSO Group, as CEO.
In August 2021, Insight Partners invested $140 million in Incredibuild with most of the sum for buying Fortissimo's stake and a small amount for further investment by the company. At the time Incredibuild was valued at $200 million and now 10 month later, its valuation has doubled to $400 million.
Incredibuild has developed technology that assists companies to accelerate various stages in the software development process such as code compilation, building different versions and automation software by at the same time exploiting their computer resources or in the cloud. Incredibuild works with over 1,500 development organizations in gaming (like Epic Games), software (Microsoft and Adobe) and financial services (CitiBank).
Mazel Shachar said, "Enterprises are under unprecedented pressure to expedite the release of high-quality applications, to get to market faster with less overhead. We see Hiro’s investment, combined with our significant revenue growth, as validation that our market-leading platform has and will continue to help companies from numerous industries improve ROI and TCO and stay at the top of their game. We’re partnering with developers and customer-facing teams to continuously enhance our platform. At Incredibuild, we believe Development Never Stops."
Published by Globes, Israel business news - en.globes.co.il - on June 27, 2022.
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