On June 27, Incredibuild, the company behind the top hybrid development acceleration platform for teams of developers and DevOps, said that it had raised USD 35 million in Series B funding, doubling its ARR and greatly raising its valuation. With involvement from current investor Insight Partners, Hiro Capital, a venture capital firm created by entrepreneurs and focused on video games, creator platforms, and metaverse technologies, led the round.
Just over a year ago, Insight Partners purchased a stake in Incredibuild for USD 140 million in a multi-component financing transaction, joining Fortissimo Capital, which had previously invested in the business in 2018.
What the founder has to say:
Tami Mazel Shachar, CEO of Incredibuild:
“Businesses are under unheard-of pressure to produce high-quality applications quickly so they may enter the market quickly and with minimal overhead. Our market-leading platform has helped businesses from various industries increase ROI and TCO and stay competitive. We view Hiro’s investment and our considerable revenue growth as evidence of this. As we improve our platform over time, we collaborate with teams dealing with customers and developers. We at Incredibuild think that development never ends.
What the investors have to say:
Cherry Freeman, Co-Founding Partner at Hiro Capital:
“Games firms are experiencing capacity constraints among developers. By speeding up build compilation, Incredibuild saves developers valuable time. Incredible gaming companies like Tencent are already reaping the benefits of Incredibuild, Take-Two, EA, Konami, Nintendo, Capcom, and WB Games. We hope that more businesses will learn about and utilize their excellent technology. As usual, games are at the forefront of technical development, and we see a time when Incredibuild will serve as the de facto distributed supercomputer running on every PC in every business. In addition, this trip represents Hiro’s first investment in Israel, a nation with a fantastic track record in technology, where we believe this is just the beginning of many future investments.”
More about the company:
The top hybrid acceleration platform for development processes, including testing, CI/CD builds, compilations, and Incredibuild has developed more. Through the use of CPUs, its Virtualized Distributed ProcessingTM technology transforms each host into a multi-threaded supercomputer. Incredibuild’s potent distributed processing and distinctive build caching solutions accelerate development and test cycles and boost the effectiveness of each development sprint and iteration frequency, improving product quality, increasing developer satisfaction, and reducing time-to-market while significantly lowering compute costs on-prem and in the cloud.
Incredibuild has developed the top hybrid acceleration platform in the market to facilitate accelerated development in a world where user retention is becoming increasingly important and quick product releases are becoming more and more necessary. Incredibuild’s technology dramatically shortens development and testing cycles for a wide range of sectors, including video games, automobiles, financial services, software services, interactive entertainment, and embedded technologies, by turning every machine on the network into a supercomputer.
The funds will be used to expand Incredibuild’s global market presence, speed up the deployment of its Community, Developer Relations, and Cloud programs, and increase customer value, enhancing platform capabilities and solidifying the company’s relationships with developers and strategic partners.
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