Morning Report: Puppet, a DevOps automation platform, has raised a $42 million Series F led by Cisco.
IT automation software company Puppet has raised $42 million in a late-stage round led by Cisco. Other participants included EDBI, along with previous investors Kleiner Perkins, True Ventures, and VMWare.
The Portland, Oregon-based company was founded in 2005 and aims to use its software to allow companies to better manage their operating infrastructure and automate application deployments. With Puppet, companies can design apps and infrastructure, and share, test and deploy platform changes while increasing infrastructure and data visualization.
Prior to this capital infusion, the company raised $22 million in debt financing from Silicon Valley Bank in January 2016. With this new round, its known aggregate venture funds raised has reached $127.5 million, according to Crunchbase. Though the company has not released information regarding its current valuation, TechCrunch speculates that it has reached “significantly more than $700 million, and may well be approaching the $1 billion-mark.”
With that funding, the company has expanded in the U.S. It is also adding five new offices in Seattle, Sydney, Timisoara, Singapore, and Tokyo, where it says a partnership with Singapore-based EDBI will serve its goals in Asia.
The company boasts that it has brought more than 40,000 companies on its platform and has introduced five new products in the last year. According to Crunchbase, Puppet’s main competitors include Chef, an operations and infrastructure automation platform which has raised $105 million for its own efforts from investors like DFJ, Scale Venture Partners, and Battery Ventures. The flow of capital from VCs and corporate investors in the space points to the interest in building smart, automated technologies that can better serve the growing magnitude of operations that tech companies manage and deploy.
From The Crunchbase Daily:
- Sequoia Capital has closed on $6 billion of what could be an $8 billion pool of capital for its largest global growth fund to date. Meanwhile, the venture capital giant is still raising other massive growth funds.
- Sequoia’s not the only one scaling up. Growth stage technology investor Highland Europe just announced the close of a €463 million ($610 million) third fund that will back European software and internet businesses.
- Uxin, the China-based operator of a used car sales platform, is set to begin trading on Nasdaq after pricing shares for its public offering at $9 each, below the expected range.
- In a bid to boost revenues from short-term rentals, startups are raising funding to hone dynamic pricing tools that adjust listing prices for Airbnb hosts in response to changing market demands.
- Disrupt SF is returning on September 5-7, and they’re looking for awesome pre-series A startups to be a part of Startup Alley, where hundreds of early-age companies showcase their talent to attendees, investors, press, and more. Startup Alley packages with three passes are available for a limited time – get yours now!
Illustration Credit: Li Anne Dias