It’s a major milestone that makes for headlines. JFrog has now exceeded the billion-dollar valuation mark.
“We are north of $1 billion already,” Shlomi Ben Haim, JFrog’s CEO and Co-Founder, told TechCrunch. “We are building the company to generate the revenue to justify it.”
Those comments came on the heels of a $165 million Series D late-stage venture round. The latest round was spearheaded by Insight Venture Partners. As part of the announcement, Jeff Horing, Insight’s Managing Director and Co-Founder, will be joining the JFrog board.
Investors in Series D Round:
1. Insight Venture Partners
2. Silicon Valley Funds
3. Sparks Capital
4. Geodesic Capital
5. Sapphire Ventures
6. Scale Venture Partners
7. Dell Technologies Capital
8. Vintage Investment Partners
Sapphire Ventures, Scale Venture Partners, Dell Technologies Capital, and Vintage Investment Partners had also invested in previous rounds. This brings total funding for the company to $226.5 million and officially establishes it in the unicorn category.
Powering Some Of The World’s Largest Tech Companies
JFrog counts among its clients some of the world’s largest tech companies, including AWS, Google, Slack, Cisco, Facebook, Instagram, AWS, Spotify, and Netflix. The company counts more than 4,500 customers and 70 percent of Fortune 100 companies.
JFrog Has Transformed Code Updates
JFrog has made a significant statement in the software delivery sector. Their mission is nothing less than to transform the way organizations manage and release software updates. Using automation and end-to-end solutions for software artifacts, the company developed the world’s first universal artifact management platform. This platform represents a huge step forward in DevOps by delivering seamless, continuous, and non-intrusive updates to software.
Its products allow clients to deliver code in the form of binaries. Updates can be delivered continuously in the background without disrupting the user experience. This avoids having to shut down services for updates.
JFrog Artifactory handles the continuous delivery model. Unlike other industry tools, such as GitHub, that act as a repository for downloading updates,
JFrog Artifact Repository delivers continuous updates with users having to initiate a download or stop software for installs. Artifactory is supplemented with products, including JFrog Bintray which supports scalability as a native repository for update distribution.
JFrog Xray handles multi-layer analysis of containers and software artifacts. It provides continuous auditing of artifacts for vulnerabilities, license compliance, and quality assurance. JFrog Mission Control is a dashboard product that provides a quick view of Artifactory and Xray services. Centralized global artifact management also allows users administrative control of software installed on their own sites or remote sites.
Together, they provide a suite of products to handle continuous software delivery that can cross different environments and streamline the entire software distribution and management process.
The company has been on an upward trajectory. Since a $50 million round in 2016, it has grown revenue 500 percent and grown from 110 employees to 400. Along the way, it’s acquired several other companies:
Its most recent acquisition, Shippable, is a company that strives to help companies ship code faster with integration platforms built natively on Docker.