On Wednesday, The Wall Street Journal reported that GitHub – a code repository, version control, and collaboration platform – closed a new funding round, raising $250 million at a whopping $2 billion valuation.1 The round, led by Sequoia Capital, with Andreessen Horowitz, Thrive Capital, and Institutional Venture Partners pitching in, brings the Silicon Valley company’s total outside funding to $350 million.
This latest round speaks to the foundational value that GitHub provides its users. As software continues to be one of the fastest growing and most important sectors of the world’s economy, GitHub offers the industry a solid infrastructure on which to continue building. While not every software company uses GitHub, just about every single developer in the world has used the platform in some way or another – either hosting their own code, downloading or forking someone else’s code, or even hosting a website on the platform.
GitHub CEO and co-founder Chris Wanstrath told Frederic Lardinois of TechCrunch, that the round will be used to ramp up the sales and engineering team. Further, Wanstrath hinted at a bolder approach to acquisitions: “The round is not just to accelerate, but also to allow us to think bigger and take larger risks.”2
- Deborah Gage, The Wall Street Journal, “GitHub Raises $250 Million at $2 Billion Valuation,” 29 July 2015 ▲
- Frederic Lardinois, TechCrunch, “GitHub Raises $250M Series B Round To Take Risks,” 30 July 2015 ▲