Goldman Sachs invests $20 million in DevOps firm GitLab

Goldman Sachs invests $20 million in DevOps firm GitLab

Goldman Sachs has invested $20 million in DevOps unicorn GitLab as part of a $100 million series D financing round which values the company at $1.1 billion.

GitLab provides a unified application interface covering the full DevOps liefecycle, which enables Product, Development, QA, Security, and Operations teams to work concurrently on the same project.

The firm currently claims over 100,000 organisations - including Goldman Sachs - use its toolkit to speed up DevOps processes.

“GitLab has allowed us to dramatically increase the velocity of development in our Engineering Division,” says Andrew Knight, managing director at Goldman Sachs. “We believe GitLab’s dedication to helping enterprises rapidly and effectively bring software to market will help other companies achieve the same sort of efficiencies we have seen inside Goldman Sachs. We now see some teams running and merging 1000+ CI feature branch builds a day.”

Sid Sijbrandij, CEO at GitLab, says that client firms are realising that when they spend less time maintaining complex DevOps toolchains, they spend more time writing code and delivering value to their business.

“We plan on using this latest financing to continue helping enterprise organisations like Goldman Sachs achieve DevOps success with faster software development cycle times,” he says. “This investment will further our goal of building out our application with stronger planning, monitoring, managing and security features, to make GitLab best-in-class in all DevOps tool categories.”

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