Wellington Financial Provides US$6M to Electric Cloud to Accelerate Growth of its Market Leading DevOps Release Automation Platform
As the Canadian Prime Minister visits Washington, it is timely to announce a US$6 million financing to support the growth of San Jose-based Electric Cloud, the leader in DevOps Release Automation. The need for fast and continuous software delivery is imperative for customers across a growing number of industries, and Electric Cloud has successfully risen to the challenge of meeting this mission-critical need for numerous Fortune 500 businesses. As a result, Gartner named the company as a leader in the Application Release Automation category. Its DevOps Release Automation tools orchestrate the software release process and allow seamless coordination and collaboration amongst development and operations teams, which results in as much as 200X faster release cycles. We see a huge growth opportunity in this category as it grows in prominence, and who better to work with than category leader.
The application release market is rapidly growing as organizations focus on accelerating their software releases and improving product quality, to attract users and remain competitive. As they shift away from manual, error-prone release processes towards a flexible, faster, and more convenient model of software releases, Electric Cloud has gained the attention of analysts and customers alike. ElectricFlow, the company’s flagship product, orchestrates the entire delivery process, automating builds, tests, and deployments, to allow teams to continually reduce the cost and risk of releasing software.
ElectricFlow is being used by customers such as E*Trade, Scottrade, Gap, Qualcomm, GE and others to boost DevOps productivity, making their software releases faster, and safer. Our investment will help Electric Cloud continue to improve the support that we provide to our existing clients, grow our footprint in new regions worldwide, and fund further product development to keep them well ahead of the competition.
In 2016, Electric Cloud was positioned the highest for Vision and Execution in Gartner’s Application Release Automation Magic Quadrant and was recognized as a Leader in the space also by Forrester research, Ovum, and other analysts. Electric Cloud is backed by Rembrandt Venture Partners, US Venture Partners, RRE Ventures, and Siemens Venture Capital.
We are pleased to welcome CEO Steve Brodie, CFO CJ Napolitano and the rest of the EC team.
As the Canadian and U.S. administrations discuss the importance of the two-way relationship, there’s no better manifestation of today’s meeting in Washington than to announce yet another growth financing for a U.S.-based, V.C.-backed tech company. All-told, our team has invested ~$400M in 14 different U.S. States, plus the District of Columbia.