DuploCloud – an industry pioneer offering a platform engineering solution that encompasses full stack DevOps automation with built-in compliance – recently closed a $32 million Series B funding round, led by WestBridge Capital and StepStone Group and with previous investor Mayfield. This significant funding round is earmarked for propelling the expansion of its exceptional team and cutting-edge product development.
The new funding round firmly positions DuploCloud as a frontrunner in the platform engineering segment which is largely a do-it-yourself effort today by organizations hiring dozens of engineers spending millions of dollars over multiple years. This latest funding round brings the company’s total amount raised to $49.5 million, following a $15 million Series A round in 2022 and Seed round in 2021.
Launched in 2018 by the original engineers of Microsoft Azure and AWS, DuploCloud has driven remarkable growth – making a significant impact on the low code/no code DevOps automation and compliance landscape. And rapidly expanding its customer base over the past year, DuploCloud has become the go-to solution for organizations seeking to streamline their DevOps processes and accelerate go-to-market. DuploCloud’s solutions played a major role in helping companies move fast and not break things by enhancing operational efficiency, reducing friction, and promoting seamless collaboration among DevOps and developer teams.
With more than a hundred customers, DuploCloud has grown annual recurring revenue by an amazing 700% since their seed round in 2021 and has been recognized in the prestigious Inc 5000 list this year, underscoring the company’s ascent in the industry.
DuploCloud’s customers span a wide range of industries, ranging from finance, health care, retail, and public sector.
KEY QUOTES:
“When we started DuploCloud, DevOps teams would equate automation with DevOps engineers writing thousands of lines of Infrastructure-as-code templates that made their own daily work more efficient while developers had no self-service and were waiting days for requested infrastructure changes. With the advent of platform engineering, there is a realization that developers need to be empowered. Infrastructure-as-Code won’t do it, which is why we want to make this platform available off-the-shelf, so companies don’t have to spend millions of dollars and years building it themselves.”
— Venkat Thiruvengadam, CEO and Founder of DuploCloud
“Over the past year, DuploCloud has further established itself as a driver of growth and product innovation in the DevOps space. We’ve been impressed with the team’s energy and commitment to helping their customers scale and succeed, and we’re delighted to support the company in the next stage of their growth.”
— Sumir Chadha, Managing Partner of WestBridge Capital
“DuploCloud is poised to take advantage of the tremendous growth in the DevOps automation market. With their innovative solutions and outstanding executive leadership, DuploCloud has not only tapped into a crucial need within the DevOps space but is poised to lead the charge in the industry’s rapid evolution, and we’re excited to see what the next several years bring in growth and opportunity for the company.”
— John Avirett, partner at StepStone Group
