Israeli startup Codefresh, which offers DevOps teams a key tool for continuous integration and delivery of cloud-native applications on Kubernetes, announces today (Monday) a $27 million Series C funding round led by Red Dot Capital Partners, with Shasta Ventures and existing investors Vertex Ventures, M12, Viola Ventures, Hilsven Capital, and CEIIF, all participating in the round.
Increase in Kubernetes adoption brings an increase in platform use
As Kubernetes becomes the standard for running and managing cloud-native applications, the company’s platform enables organizations to simplify and accelerate the adoption of Kubernetes.
Codefresh CEO and co-founder, Raziel Tabib explains in a talk with Geektime that “these processes are extremely critical for organizations, and because most organizations depend on older tools to streamline data integration and software updates this, in fact, harms the organizations’ ability to meet their goals. Codefresh’s platform is not only a much more modern solution to these problems but also its speed is key to allowing faster software updates which therefore increases an organization’s development process.”
Tabib notes that since the previous funding round, more companies have adopted Kubernetes, the same technology for which the platform was developed. As a result, there has been a sharp increase not only in potentially viable customers but mostly in existing users utilizing the platform more in previously uncharted areas, which caused revenue to skyrocket in the year after the last funding round,” tells Tabib.
Tabib continues to add that “we live in an era where organizations are searching for ways to simplify processes, automate systems, and basically cut costs - Codefresh does exactly that. Our platform enables our customers to easily migrate existing applications as well as develop new ones in a Kubernetes environment. Additionally, we eliminate the costs of maintaining legacy tool-chains, which are usually based on older technology.”
Codefresh was founded in 2016 by CEO Raziel Tabib, CTO Oleg Verhovsky, and currently employs 60 people, with 20 of them based in Israel. Including this latest Series C round, the company has raised a total of $42 million up-to-date and plans to put the newfound investment towards accelerating development and expanding the company’s R&D center in Israel.