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DevOps Startup Sysdig Raises $70M Series E

DevOps startup Sysdig has raised $70 million in its Series E round, the company announced Wednesday.

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In addition to the new funding, which was led by Insight Partners, Sysdig also announced the formation of its Japanese subsidiary, Sysdig Japan GK, as the company looks to expand internationally.

The new funding will be used to invest in both engineering and the go-to-market side of the business, Sysdig chief marketing officer Janet Matsuda said in an interview with Crunchbase News. The company will especially be investing in engineering in its San Francisco and Raleigh offices.

The new round was oversubscribed, Matsuda said, and also included participation from previous investors Bain Capital Ventures and Accel.

“Our investors came to us with interest and they were very bullish and so we thought this is the time to do it,” Matsuda said.

The company will also be using the new funding to expand its international presence, Sysdig said in a statement. Sysdig currently has a presence in France, Germany, the United Kingdom and the Netherlands from a sales standpoint, and has an engineering presence in Italy, Spain and Serbia.

Sydig’s open-source technology lets companies run cloud-native projects securely. As more companies move to the cloud, security is a major challenge they face.

“Companies are going to the cloud and containers because they want to improve the speed of innovation. … and security is the top barrier when they think about how they’re really going to adopt that approach,” Matsuda said. “They need to embed security into their DevOps process and that’s what this investment is about.”

Last year, the company more than doubled revenue from Fortune 500 banks and financial institutions, and opened new offices in Spain and Italy.

Sysdig last raised $68.5 million in a Series D round led by Insight Partners in September 2018. The new round brings the company’s total funding to more than $191 million, according to Crunchbase.

Illustration Credit: Li-Anne Dias

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