The ‘open source GitHub’ GitLab from Dutch CEO Sytse “Sid” Sijbrandij today announced a 20 million dollar (17.8 million euro) series B investment led by August Capital. Previous investors Khosla Ventures and Y Combinator also participated in this round.
Sijbrandij announced the funding round in a blog post. The investment will be used to move “full speed ahead”. GitLab wants to bring a lot of functionalities in one user interface, like issues, wikis, code review and continuous integration, delivery and deployment.
Khosla Ventures previously funded the company in a 4 million dollar series A round. It also got a 1.5 million dollar seed round from multiple investors like Khosla and some American celebrities. YCombinator was among the first to invest in the GitHub competitor, through a little seed round back in 2014.
“Investing in GitLab was an obvious choice,” said Vinod Khosla, founder and partner of Khosla Ventures. “Open source solutions are the future, and GitLab is leading the way as the most popular open source code collaboration platform on the market.”
The startup quickly became one of the advocates of the open source movement. It lets anyone have feedback at the platform through a public issue tracker and is being as transparant as possible with their policies and with the direction the business is headed.
The investment also allows the company to further build their ‘Master Plan’, which until now was covering “the entire lifecycle from idea to production with agility and collaboration.”
Later today, CEO Sijbrandij will unveil the details of the ‘Master Plan‘ in an (online) event.