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DevOps-centric Puppet Labs closed a series E $40 million investment round, bringing its total funding to $86 million. The IT automation company plans on using the cash to expand globally and invest in research and development.
This should be the last round of funding before Puppet Labs makes a go in the public markets as the company should be cash-flow positive in late 2015, said Puppet Labs CFO Bill Koefoed.
Puppet Labs specializes in helping companies manage and automate their often messy backend infrastructure. For example, Koefoed said Puppet Labs is currently working with a big retailer that uses the company to manage its 7,800 point-of-sales systems throughout the globe.
Atlassian, Conde Nast, GitHub and Intel are some of Puppet Labs’s customers, among others.
Puppet Labs operates in the competitive IT automation marketplace in which legacy providers like IBM and CA do battle with startups like Chef and Ansible.
Recently, the IT automation company released a survey on the state of DevOps in the current marketplace. The survey, which analyzed the results of 9,200 respondents, found that 90 percent of employees that are part of DevOps departments were associated with organizations that claimed a high level of IT performance.
The Portland, Oregon-based company has 320 employees.