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. 

SEE ALSO: Softbank Capital Infusion Takes E-commerce Firm Fabric’s Valuation to $1.5 Billion

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. 

SEE ALSO: German Startup FUEL Raises €1.5 Million Despite Signs of NFT Bubble Burst

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]

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency.  At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

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