Insight Partners leads $96m series-B for Copado

Lead Edge Capital, Isai Cap Venture and Perpetual Investors also took part in the investment.

The company intends to use the fresh financing to expand the functionality of its product suite, accelerate product innovation and boost its international growth.

Previous funding
Copado raised €7.5m in a series-A funding round led by Insight Partners with participation from Salesforce Ventures in September 2018.

Subsequently, Insight Partners led an additional $26m series-B round for the company in June 2020. The round saw participation from existing investor Salesforce Ventures and new backers Lead Edge Capital, Isai Cap Venture (Capgemini and Isai's joint fund) and Perpetual Investors.

Company
Founded in 2013 in Madrid, Copado provides a DevOps management platform for Salesforce's implementation and digital transformation.

Its tool enables companies to accelerate their Salesforce deployments, simplify the release process, increase developer productivity, clear their backlog of feature requests and release functionality faster to end users.

Copado's DevOps 360 platform includes agile planning, continuous delivery, automated testing and compliance.

Employing 220 staff, the company processes 50 million DevOps transactions per month and counts more than 1,000 clients, including international companies such as Boston Scientific, Coca-Cola, Fair Trade, Linde, MassMutual, Schneider Electric and Shell.

Copado is headquartered in Madrid, Spain, and Chicago, US. The company recorded 120% growth in annual recurring revenues and plans to double its turnover this year, according to a statement.

People
Copado – Ted Elliott (CEO).
Insight Partners – Nikitas Koutoupes (managing director).

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• Topics
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