CloudBees Brings Thousands of Developers to Annual DevOps World as It Surpasses $150 Million in Revenue and Achieves Profitability

Rhea-AI Summary

CloudBees, a leading software development platform, has announced significant milestones at DevOps World Virtual 2024. The company has surpassed $150 million in annual recurring revenue and achieved profitability. With over 500,000 developers using its products, CloudBees serves 500+ of the world's largest companies across various sectors. Under new CEO Anuj Kapur, CloudBees has strengthened its leadership team, launched a new SaaS DevSecOps platform, and acquired Launchable to boost GenAI efforts. The company is positioning itself for growth in the global hybrid cloud market, expected to reach $145 billion by 2026. CloudBees continues to innovate, focusing on scale, resiliency, and developer experience, as it aims to empower enterprises in their technology transformation journey.

Positive

• Surpassed $150 million in annual recurring revenue
• Achieved profitability
• Reached over 500,000 developers using CloudBees products
• Serves 500+ of the world's largest companies
• Launched new SaaS DevSecOps platform
• Acquired Launchable to boost GenAI efforts
• Strengthened leadership team with key executive additions

Negative

• None.

Insights

Financial Analyst

CloudBees' announcement of surpassing $150 million in annual recurring revenue and achieving profitability is a significant milestone. This revenue growth, coupled with a user base of over 500,000 developers and partnerships with 500+ major companies, signals strong market positioning. The company's focus on the hybrid cloud market, expected to reach $145 billion by 2026, presents substantial growth opportunities. However, investors should note that while promising, the company's revenue is still relatively modest compared to larger tech giants. The recent acquisition of Launchable for GenAI efforts demonstrates strategic investments in emerging technologies, potentially enhancing future competitiveness.

Tech Expert

CloudBees' evolution in the DevSecOps space is noteworthy. The introduction of High Availability/High Scalability (HA/HS) to Jenkins, a major update after a decade, showcases the company's commitment to innovation. The launch of a new SaaS DevSecOps platform aligns with industry trends towards cloud-based, integrated development environments. The acquisition of Launchable, focusing on test suite intelligence using GenAI, is a smart move to stay ahead in the AI-driven development landscape. However, the challenge lies in differentiating their offerings in a competitive market where giants like GitHub and GitLab also operate. The return of Jenkins' creator to the company could potentially spark further innovations, important for maintaining their edge in the rapidly evolving DevOps field.

Market Research Analyst

CloudBees' growth reflects the broader trend of digital transformation across industries. With 85% of organizations expected to adopt hybrid cloud models by 2025, CloudBees is well-positioned to capitalize on this shift. The company's diverse client base across finance, technology, healthcare and the public sector indicates strong market penetration and potential for cross-sector growth. The focus on AI integration and cloud transformation aligns with key market demands. However, the DevOps tools market is highly competitive, with both established players and innovative startups vying for market share. CloudBees' success will depend on its ability to continuously innovate and adapt to rapidly changing developer needs and emerging technologies like AI and cloud-native development practices.

New CEO has driven significant product capabilities, launched new SaaS platform, bolstered the leadership team, and refreshed the brand as company prepares for the AI era

SAN FRANCISCO--(BUSINESS WIRE)-- CloudBees, one of the world’s leading software development platforms, announced today that thousands of developers and industry leaders will convene at DevOps World Virtual 2024 to celebrate 20 years of Jenkins and the future of DevSecOps, and the path forward as the world's businesses invest in cloud transformation and software for the AI era.

“The Global 2000 has three key priorities - empower developers, modernize applications securely, and embrace the power of AI in their transformation journey. The reality, however, is that their environments are hybrid, multi-vendor and highly complex. Rooted in open-source, CloudBees, with its SaaS DevSecOps platform, is their partner for this journey,” said Anuj Kapur, Chief Executive Officer, who served as Chief Strategy Officer at Cisco and President at SAP prior to taking the helm at CloudBees in 2022.

CloudBees announced that the company has surpassed $150 million in annual recurring revenue and has achieved profitability. The company also said more than 500,000 developers use its products today, the largest developer audience in its 15-year history. CloudBees is now a trusted partner to more than 500 of the world’s largest companies in finance, technology, healthcare and the public sector, such as Salesforce (NYSE: CRM), Adobe (NASDAQ: ADBE), Accenture (NYSE: ACN), Mount Sinai Health System, HSBC Holdings (LON: HSBA), and the US Internal Revenue Service (IRS), to name a few.

Kapur says the company will take advantage of the continued growth opportunities as the global hybrid cloud market is expected to grow to over $145 billion by 2026¹. According to Gartner®, 85 percent of all organizations will have moved to a hybrid cloud model by 2025².

Kapur said CloudBees has also focused on strengthening its diverse leadership team, adding key executives previously at companies like Atlassian, 1Password, Cisco, PTC, PayPal and GE Digital. Marc Gemassmer joined as Chief Revenue Officer in 2022, Raj Sarkar as Chief Marketing Officer in 2023 and, more recently, Richa Gupta joined as Chief Human Resources Officer this month.

CloudBees’ vision is to continuously redefine what’s possible through software. The last 12 months have witnessed significant innovation in pursuit of scale, resiliency and developer experience, adding HA/HS, the most consequential update to Jenkins in more than a decade, and launching its new SaaS DevSecOps platform.

Last month, CloudBees announced the acquisition of Launchable to boost its GenAI efforts with an initial focus on test suite intelligence. Launchable was co-founded by Harpreet Singh and Kohsuke Kawaguchi, creator and founding developer behind open-source Jenkins, and the acquisition facilitated their return to the company at this critical growth stage.

“This has been an outstanding period of growth for CloudBees from a customer, product and revenue perspective,” Kapur said. “We have all the right elements in place to accelerate our momentum with continued customer centricity and product innovation, and empower enterprises to embrace this technology transformation and challenges ahead.”

About CloudBees

CloudBees enables enterprises to deliver scalable, compliant, and secure software, empowering developers to do their best work.

Seamlessly integrating into any hybrid and heterogeneous environment, CloudBees is a strategic partner in your cloud transformation journey, ensuring security, compliance, and operational efficiency while enhancing the developer experience across your entire software development lifecycle.

CloudBees supports organizations at every step of their DevSecOps journey, whether using Jenkins on-premise or transitioning software delivery to the cloud. We’re helping customers build the future, today.

Founded in 2010, CloudBees is backed by Goldman Sachs, Morgan Stanley, Bridgepoint Capital, HSBC, Golub Capital, Delta-v Capital, Matrix Partners, and Lightspeed Venture Partners. Visit us at www.cloudbees.com.

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¹ Source: AAG, The Latest Cloud Computing Statistics (updated June 2024)
² Source: Gartner, Gartner Says Cloud Will Be the Centerpiece of New Digital Experiences

View source version on businesswire.com: https://www.businesswire.com/news/home/20240917309617/en/

Scott Sutherland

SutherlandGold for CloudBees

cloudbees@sutherlandgold.com

Source: CloudBees

FAQ

What is CloudBees' current annual recurring revenue?

CloudBees has surpassed $150 million in annual recurring revenue.

How many developers use CloudBees products?

Over 500,000 developers use CloudBees products, the largest developer audience in the company's 15-year history.

Who are some of CloudBees' notable clients?

CloudBees serves notable clients such as Salesforce (CRM), Adobe (ADBE), Accenture (ACN), Mount Sinai Health System, HSBC Holdings, and the US Internal Revenue Service (IRS).

What recent acquisition has CloudBees made to enhance its AI capabilities?

CloudBees recently acquired Launchable to boost its GenAI efforts, initially focusing on test suite intelligence.

Who is the current CEO of CloudBees?

Anuj Kapur is the current Chief Executive Officer of CloudBees, who took the helm in 2022.