SUMMARY
Leo Capital and a few angel investors also participated in the funding round
The US and India-based startup will use the funds to expand its team, build tech platform and expand to new markets
Devtron said that it has a presence across the US, Europe, and India
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DevOps modernisation startup Devtron has raised $12 Mn in a fresh funding round led by Insight Partners.
Leo Capital and a few angel investors also participated in the funding round.
Founded in 2019 by Prashant Ghildiyal, Nishant Kumar and Rajesh Razdan, Devtron is a low code platform that allows users to directly integrate products with Kubernetes, enabling faster deployment and automation of their CI/CD (continuous integration/continuous delivery) pipelines.
It helps companies in scaling up their DevOps practices by enabling faster development of new products and easier maintenance of existing deployments.
“Devtron integrates with products across the lifecycle of microservices, and in particular Kubernetes, enabling its users to deploy faster and automate their CI/CD pipelines without worrying about Kubernetes knowhow. This saves significant time and resources to build and deploy in production,” said Josh Zelman, principal at Insight Partners.
Devtron said that it has a presence across the US, Europe, and India. Talking about its founders, Prashant and Nishant, both hold years of experience in building software and tech solutions. Meanwhile, Rajesh is an angel investor and entrepreneur with experience in enterprise software space.
Devtron further claims that its customers have witnessed 5x improvement in their projects and have reduced product failures by more than over 90%.
“We are elated to have Insight Partners join our board together with the continued trust of Leo Capital and other angel investors. Since becoming open source, we have seen thousands of nimble startups across the globe installing Devtron every month along with many fast-growing startups as our commercial customers,” said Prashant Ghildiyal and Rajesh Razdan, cofounders of Devtron.
The US and India-based startup will use the funds to expand its team, build tech platforms and expand to new markets.
According to a Bain & Company report, in 2021, India’s SaaS startups together bagged investments of about $4.5 Bn. The report further states that the country’s SaaS sector is set to become a $30 Bn market by 2025.
Further, the Indian SaaS sector has been gaining a lot of investors’ attention lately. Recently, we have seen a slew of fundraising activities in the SaaS segment. Impact Analytics raising $10 Mn, UserStudy securing $1 Mn and Zenskar bagging $3.5 Mn are some of the funding examples in the SaaS segment.
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