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Copado Series-B

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Copado pitch deck to raise $96m Series-B round

This is the Copado pitch deck to raise a $96m series-b round in 2021.

About

Copado is the DevOps platform enabling the world’s largest digital transformations on Salesforce. Copado accelerates digital transformation projects by automating the release process, increasing developer productivity, and maximizing return on cloud investments. Copado DevOps 360™ includes Value Planning, Continuous Delivery, Automated Testing, and Compliance.

The round is $70 million in new funding that builds on an initial $26 million investment Copado announced in summer 2020, and brings the firm’s total raised to $117 million. Lead Edge Capital, ISAI Cap Venture, and Perpetual Investors also participated in the round.

Copado decided to raise more money after doubling its revenue in the past six months and seeing increased opportunity, CEO Ted Elliot told Insider. Since the summer, the company hired new leaders from Salesforce and Vlocity, and acquired startup ClickDeploy in September. While it initially focused on helping companies deploy Salesforce’s customer relationship management platform, it now works with platforms like Veeva, nCino, ServiceMax, and SAP, too. It also plans to use its new funding to expand to MuleSoft, Vlocity, and more, Elliot said.

He attributes its progress over the last six months to convincing VCs that Copado would be a “high-quality investment”:

“The ability to scale the business, scale the leadership team, scale the revenue, and demonstrate that we can do acquisitions — and also our focus on becoming a multi-cloud product that could be used outside of just Salesforce — I think all those factors were very interesting to the investment community,” Elliot said.

Elliot declined to share the firm’s current valuation, but said it has increased from its Series A.

He also hinted that additional acquisitions could be on the horizon. In particular, Elliot’s eyeing companies that provide operations security, compliance, and testing. The massive SolarWinds attacks demonstrated that companies and public agencies need to take more precautions when deploying software, he added.

“You need a ledger of what information gets deployed in order to ensure that you don’t have a breach of security through your supply chain of building software,” Elliot said. “These are the areas that keep the CIO up at night.”

Funding rounds

Announced Date	Transaction Name	Number of Investors	Money Raised	Lead Investors
Feb 17, 2021	Series B – Copado	5	$96M	Insight Partners, Salesforce Ventures
Jun 18, 2020	Series B – Copado	5	$26M	Insight Partners
Sep 20, 2018	Series A – Copado	2	€7.5M	Insight Partners