Incredibuild Announces $140M in Funding as Cloud Transformation Turbocharges Software Development Cycles
TEL AVIV, Israel, March 17, 2021 /PRNewswire/ -- Incredibuild, the software development acceleration platform, today announced a $140 million investment from ScaleUp investor Insight Partners. The investment, which includes both primary and secondary components, will help expand Incredibuild's US operations to meet the rapidly growing demand for its software development acceleration technology. The company, which has been profitable from day one, experienced a 55% increase in revenue in the past year as businesses seek the ability to build and ship software versions faster without compromising on quality. Lead investor Insight Partners is joining Fortissimo Capital who acquired Incredibuild in 2018.
Incredibuild provides an out-of-the box platform that harnesses the power of compute to distribute processes across idle power in a network, thereby allowing companies to maintain a competitive edge by releasing better software faster. Built for both the cloud and on-premise environments, Incredibuild helps solve the time to market challenge and reduce compute costs by up to 30%. Over 800 customers, including Microsoft, Amazon, Citibank, Barclays, Adobe, Disney, Intel, Samsung, EPIC Games, and Nintendo, use Incredibuild to accelerate the development cycle, from code compilation to testing to release automation. The investment signals strong confidence in the value of Incredibuild's technology to its existing customer base, and a promise for continued product innovation and strong customer support going forward.
"In fiercely competitive markets, top quality frequent releases are vital," said Tami Mazel Shachar, CEO of Incredibuild, who has been accelerating the company's growth since joining a litte over a year ago. "With the new funding, Incredibuild is poised to expand the market opportunity, enabling companies to maintain their competitive edge. With cloud adoption being paramount, we plan to further scale and evolve our software development acceleration platform for development teams and release managers in verticals such as finance, gaming, and the growing AR and VR markets."
Investor Insight Partners has an impressive track record of scaling up companies in the development space, such as JFrog and Docker. Insight deploys their ScaleUp engine, Onsite, to partner with companies across functional business areas to help them become market leaders. Insight Partners' Managing Directors Teddie Wardi and Lonne Jaffe and Senior Associate Brad Fiedler will be joining Incredibuild's Board of Directors.
"We firmly believe that Incredibuild has built a crucial technology for any business that wants to develop better software, radically faster," said Teddie Wardi, Managing Director at Insight Partners. "With our long history of investing in the development ecosystem, we are confident that Incredibuild will continue to innovate and build upon their recent momentum."
"Fortissimo bought Incredibuild in 2018 with belief in the enormous potential of distributed processing," said Yoav Hineman, Partner at Fortissimo Capital and board member of Incredibuild. "The investment by Insight Partners is a great milestone in delivering unparalleled acceleration for software developers"
Incredibuild turbocharges development with our Virtualized Distributed Processing™ technology that turns every host into a supercomputer with hundreds of cores. Incredibuild seamlessly distributes processes across idle processors in the network on-prem and dynamically allocates cloud capacity based on availability and cost. Using the same code, processes, and tools, developers and managers accelerate product development with 8x faster builds, 80% shorter release cycles, and 4x the number of iterations, consistently releasing better products to market radically faster.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
Fortissimo Capital Fund is a private equity group, established in 2004, that invests primarily in technology and industrial companies and works with management to expedite growth. Fortissimo raised $1.6 billion across five funds. A few notable portfolio companies that the fund exited include: Soda Stream (later sold to Pepsi), Kornit Digital, Diptech (sold to Ferro), Nur Macroprinters (sold to HP), AOD (sold to Primus), Cadent (sold to Align), Biological Industries (sold to Sartorius), and Starhome (sold to Tomia Global).
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