Madrid-based devops platform Copado closes $96 million in Series B

Copado, a Madrid-based startup that’s built a devops platform for Salesforce, has closed $96 million in Series B funding, bringing the total funds invested in the company to $117 million. Copado will use the fresh capital to expand the platform and fuel international growth. The financing was co-led by Insight Partners and Salesforce Ventures, with additional investment from Lead Edge Capital, ISAI Cap Venture and Perpetual Investors. 

Though founded back in 2013, the Spanish company has experienced rapid growth in the last year. According to a press release, its customer base has grown from nearly 200 to over 1000. Copado also more than doubled its workforce, with over 220 employees worldwide. Finally, the company recorded 120 percent growth in annual recurring revenue and plans to double again this year. Part of that growth will be driven by applying the devops solution to software other than Salesforce. Nikitas Koutoupes, managing director at Insight Partners and Copado board member, says the company “has a powerful vision and clear roadmap to scale that vision across multiple cloud applications.”