AutoRabtt Lands $26 Million Deal in Series B, Will Focus on Expansion of DevSecOps Platform
AutoRabit, the company that provides CD/CI tools to Salesforce customer dev teams has announced that it has secured a $26 million investment in a Series B funding round. This round was led by Full in Partners, raising a total of $52 million.
Meredith Bell, CEO of the company has said that the capital will be used for product development and expanding the company’s workforce.
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Surge in cybersecurity threats and attacks observed
Cybersecurity threats have increased significantly over the past few years. Governments from around the world saw a 1, 885% increase in ransomware attacks in 2021 [1]. The White House has recommended tighter security policies and improving the infrastructure to tackle these cyberattacks.
AutoRabit’s funding comes at a time when the demand for DevSecOps tools has increased significantly. The company is expected to use the capital toward product development and company expansion. In addition, the company will also continue to address development and security challenges that are consistently faced by companies that use Salesforce.
Meredith said that the capital raised in new funding will allow the company to develop product capabilities that comply with the regulatory and security requirements of their customers. She said that the investment will also help them develop products faster and release new features to their stakeholders and customers. She further added that the injection of capital will also help them deliver additional value to their customers via an improved set of DevSecOps solutions that work seamlessly with the existing suite of products.
Currently, Salesforce continues to enjoy a lion’s share of the market and is one of the largest CRM providers in the world. Having said that, the issues faced by customers are also compounding, which is why the firm is looking for solutions to solve these bottlenecks.
Maurizio de Franciscis, Managing Director, Full In, said that since their first investment in February 2020, the company has been excited to be a partner of AutoRabit as they provide momentum for growth. He said that cybersecurity has become very important and AutoRabit’s DevSecOps solution allows the development team of Salesforce to build digital products safely.
About Full In Partners
Full In Partners was founded in 2019 and is a women-led growth equity company in New York. The company primarily focuses on empowering high-efficiency and velocity internet and software companies while creating better outcomes via strategic and proactive support.
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Feature Image Source: rawpixel.com
Sources:
[1] Taylor. A (2022) “There’s a huge surge in hackers holding data for ransom, and experts want everyone to take these steps” Fortune [online] Accessed [May 2022]
