Spinnaker Commercialization Company Armory Raises $40 Million

By Annie Baker ● October 15, 2020
  • Armory — an enterprise software company commercializing the open source continuous delivery platform Spinnaker —announced it has raised $40 million in Series C funding led by B Capital

Armory — an enterprise software company commercializing the open source continuous delivery platform Spinnaker —announced it has raised $40 million in Series C funding led by B Capital with Lead Edge Capital and Marc Benioff participating.

This round of funding also includes follow-on investments from existing investors, including Insight Partners, Crosslink Capital, Bain Capital Ventures, Mango Capital, Y Combinator, and Javelin Venture Partners.

The new funding round brings the company’s total funding to more than $82 million so far. In connection with the funding round, Armory also announced that B Capital general partner Rashmi Gopinath has joined its board of directors.

The funding round will accelerate R&D, Customer Support, Sales, and Marketing for the Spinnaker-as-a-Service cloud platform Armory has designed to make its software delivery, security, scalability, and reliability features more accessible to the Global 2000. And companies can apply for early access to Armory’s SaaS offering here.

Armory also recently deepened its executive bench by hiring two industry veterans. This includes COO Margaret Francis, former SVP Product Management and GM of Heroku (a Salesforce company). Francis worked at Heroku for about 6 years and she helped to grow the business from tens to hundreds of millions of dollars annually by launching a series of best-in-class products that helped developers to build and run cloud applications with ease.

Sarah Sproehnle joined Armory as Worldwide VP of Customer Success. Sproehnle brings 20 years of experience in enterprise open source software and spent the last decade building Customer Success teams at Cloudera and Confluent.

Spinnaker is known as the leading open source software delivery platform used by 15,000 enterprises to visualize, codify, and automate the entire SDLC. And Spinnaker enables developers to own their services from code to production by uniting a pipeline management system with deep integrations to deployment targets within AWS, Microsoft Azure, Google Cloud Platform, Pivotal Cloud Foundry, etc.

And Spinnaker is also the only open source software delivery platform with active contributors from all major cloud providers. Developed and open sourced by Netflix and Google, the platform has been tested in production by thousands of teams over millions of deployments. Spinnaker’s core functions are application management and application deployment. Application management enables users to view and manage cloud resources, while application deployment manages continuous delivery workflows.


“Progressive companies that understand how to build, ship and iterate on feature-rich experiences for their users will thrive over the next decade, out-innovating their peers and accruing much more enterprise value than those who don’t. We are entering an era of Big Code, where source code becomes the DNA of a company. Legacy software delivery tooling built for data centers cannot handle the massive complexity that comes with coordinating thousands of developers as they break monolithic apps into hundreds of microservices and deploy to dozens of targets across multiple clouds like AWS, GCP, and Azure. Armory is a cloud-native software delivery platform built on the open source multi-cloud CD standard, Spinnaker, which is supported by hundreds of the world’s leading enterprises, including all of the major cloud vendors. Armory powers software delivery for some of the world’s most progressive Fortune 500 companies, like JPMorgan Chase and Autodesk, accelerating their growth over the coming decades. Partnering with B Capital enables us to continue to scale Armory across the Global 2,000.”

“Creating a diverse workforce and inclusive environment for our employees to thrive is key to unlocking innovation and successfully scaling Armory. I’m thrilled to welcome Margaret and Sarah to Armory’s executive team, and additionally, for Margaret to join Armory’s Board of Directors.”

— Daniel R. Odio, CEO of Armory

“Armory’s upcoming SaaS offering of Spinnaker addresses a critical need to consume infrastructure software in a self-service approach. From the Global 2000 to mid-market, enterprises are adopting Spinnaker because it’s the only proven enterprise-grade cloud native platform that supports complex deployments in a highly scalable, secure, and regulatory-compliant manner and it’s a key reason B Capital is excited to make this investment into Armory. Spinnaker’s thriving and vibrant open-source community is a significant differentiator and offers an unmatched competitive advantage for Armory. We look forward to working with the Armory team to build a devops category leader in the continuous delivery market.”

— Rashmi Gopinath, General Partner at B Capital

“What makes me excited about Armory is the potential to make it safe, easy and fast to deliver software to production, a problem I’ve seen firsthand at the many customers and in the many teams I’ve known and worked with. We need a next generation Software Development Life-Cycle (SDLC) where a set of key technologies work together to make cloud deployments quick, safe, and resilient. What I loved about Heroku is the ability to get from an idea to an app to a business in a flash. Armory has an opportunity to drive innovation for the enterprise by focusing on rapid innovation through a developer experience that is collaborative and scalable.”

— Margaret Francis

“I’m drawn to companies that transform the way technology is used, and Armory is doing that. What made this opportunity even more special is the team and its people-first values, which extend to our employees, customers, partners, and the open source community.”

— Sarah Sproehnle

“At AWS, we’re proud to work closely with Armory and congratulate them on their Series C funding. Spinnaker is an enterprise-grade, open source project that is utilized by a number of our customers to improve their developer teams’ productivity. We’re happy to contribute to this critical OSS project and look forward to continued work together with Armory.”

— Deepak Singh, Vice President of Compute Services, Amazon Web Services, Inc