Agile Development Start-up JFrog Receives $165 Million in Latest Funding Round
Developer artifact management software startup JFrog has raised $165 million in a private funding round. The round, led by Insight Venture Partners, values the company at over $1 billion, according to JFrog’s Israel-based CEO Shlomi Ben Haim, who did not cite a specific figure.
JFrog’s core product allows developers to manage large Agile development projects. It joins companies like Tricentis, QASymphony, SonarSource and Checkmark in the private equity’s growing portfolio of development and QA investments.
“Users expect their software to update continuously, non-intrusively, seamlessly,” the company said in a statement.
“It is not acceptable that you get into your car and it will not start because of a software update. Think about your Facebook or LinkedIn. Do you really know what version of their software you’re running? You don’t, because it’s seamless to you.”
The company stated that since its previous funding round two years ago, sales had increased over 500%. Its list of over 4,500 customers includes Amazon, Facebook, Google, Netflix, Uber and Spotify.
This funding round comes just a few months after Microsoft announced its intention to buy GitHub for $7.5 billion.