CircleCI Raises $100M Series F & Acquires Vamp

CircleCI Secures $100 Million in Series F Funding and Acquires Vamp

CircleCI, a leading innovator in continuous delivery, has announced a $100 million Series F funding round, resulting in a company valuation of $1.7 billion. Concurrently, the company revealed its acquisition of Vamp, a startup specializing in release orchestration, a move expected to seamlessly integrate into the existing CircleCI platform. The financial details of the acquisition were not disclosed.

Funding Details and Investor Participation

Greenspring Associates spearheaded the funding round, with significant contributions from Eleven Prime, IVP, Sapphire Ventures, Top Tier Capital Partners, Baseline Ventures, Threshold, Scale, Owl Rock, and Next Equity Partners. This latest investment arrives just over a year following a $100 million Series E round, bringing the total funding raised by CircleCI to over $315 million.

Rationale Behind Continued Investment

Jim Rose, CEO of CircleCI, explained that the decision to secure $200 million in funding over the past two years stems from the belief that continuous delivery is still in its nascent stages. Despite being founded in 2011, the full potential of this approach is only beginning to be realized.

“We anticipate becoming a central force within the development landscape,” Rose stated. “We are actively investing in both operations and development to ensure we achieve this objective.”

Pandemic-Driven Acceleration of Automation

Rose noted a significant acceleration in the adoption of automation, particularly during the pandemic. Software development teams, adapting to remote work environments, increasingly sought to eliminate manual processes.

“The shift to remote work highlighted the necessity for increased automation to maintain delivery capabilities and build resilient systems capable of withstanding disruptions,” he explained.

Strategic Acquisition of Vamp

The acquisition of Vamp addresses a critical gap in CircleCI’s product offerings – what occurs after application deployment. This addition completes a significant portion of the product roadmap.

“This acquisition not only accelerates our roadmap but also provides the Vamp team with a platform to further develop their vision and expertise, from which we can also learn,” Rose commented.

Vamp’s Background and Integration

Founded in 2013 in Amsterdam, Vamp had raised approximately €3 million, according to Crunchbase data. Nico Vierhout, CEO of Vamp, emphasized the synergy between the two companies.

“Our goal has been to create a self-driving and self-healing software release platform,” Vierhout stated. “Joining CircleCI will enhance visibility and control for developers, streamlining the software building process.”

The 15-member Vamp team will integrate into CircleCI, continuing to support and evolve the product as its functionality is incorporated into the broader platform. CircleCI’s employee base has now surpassed 550, doubling in size over the past year.

Future Outlook and IPO Considerations

While a Series F funding round with a substantial valuation often foreshadows an initial public offering (IPO), Rose indicated that CircleCI is currently prioritizing customer focus and product development. He acknowledged investor expectations for liquidity but emphasized a commitment to long-term growth.

“We are focused on remaining closely aligned with our customers and building a robust platform,” Rose concluded. “Other considerations will naturally follow.”