Fast-growing build acceleration platform Depot announced it raised $4.1 million in seed funding led by Felicis. Y Combinator, Aviso Ventures, Tokyo Black, and several angels also participated in the round.
The company has also seen significant growth over the past year, reaching over 1 million builds per month and helping over 3,000 users across 1,800+ organizations. The company is now accelerating software development for hundreds of companies, including PostHog, Wistia, and Semgrep.
Customers accelerate build processes utilizing the Depot build platform that supports native CPUs, instant cache sharing, and performance-tuned build runners. The company saves customers on average 13,750 build hours per week. This investment will support the company’s expansion of its offering into other build inputs that the Depot platform can further accelerate.
The continuous integration providers and traditional build tools have long struggled to address a common pain point for developers – which is slow build performance. And legacy companies tend to focus on the wrong abstractions, leading to inefficient software development processes and increased developer frustration. This inefficiency not only slows down product development but also hampers the speed at which businesses can innovate.
Depot fundamentally changes how software is built by providing secure, fast, and intelligent build tools and services that save developers around 13,500 hours of build time per week.
This news comes on the heels of the company breaking 1 million builds a month and launching its third product Depot GitHub Actions Runners. This is a major step forward in Depot’s mission to accelerate software builds for developers.
KEY QUOTES:
“Builds are the linchpin of software development. All software must be built to run and test code locally. Likewise, developers need to build again in a continuous integration environment before testing and deploying to production. Depot accelerates builds in both environments to make the iteration cycle faster for developers everywhere.”
- Kyle Galbraith, CEO and co-founder of Depot
“All software development relies on being able to efficiently build as quickly as possible across both locally and continuous integration environments. Depot is scaling the build acceleration platform that will revolutionize developer productivity in all environments.”
• ⁃ Jake Storm, Partner at Felicis
