HSBC invests $10 million in DevOps startup CloudBees

June 12, 2019
Written by Folake Dosu

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HSBC’s $10 million investment in CloudBees, a continuous delivery software services startup, is the financial institution’s latest vote of confidence in the DevOps space, a $4.61 billion industry. 

As announced earlier in a statement from the company, HSBC is deepening its relationship with CloudBees, which provides commercial support and additional plugins for open source Jenkins. Cloud Tech notes that this move should not be interpreted as entirely altruistic, noting that HSBC has been a heavy user of CloudBees for its software delivery system.

In a company blog post, CloudBees founder Sasha Labourey welcomes HSBC as an investor, describing this relationship as an opportunity to have an “up-close view into how one financial institution is handling their DevOps transformation.”

“HSBC is very important to CloudBees: they are not only one of our biggest customers, but we are also collaborating closely with them on some key strategic initiatives such as the next iteration of our CloudBees platform (the first market implementation of SDM), on Jenkins X and on hybrid public/private cloud deployments, in particular with Google Anthos,” explains Labourey.

"We invest in technologies which are strategically important to our business, and which help us serve our customers better," said Dinesh Keswani, chief technology officer for HSBC shared services, in a statement. "The DevOps market is growing fast, as organisations like us drive automation, intelligence and security into the way we deliver software. CloudBees is already a strategic business partner of HSBC; we are excited by our investment and by the opportunity to be part of the story of continuous delivery."

With this investment from HSBC, San Jose-based CloudBees’ overall funding is currently north of $120 million, following a $62 million growth capital round last year.

CloudBees will leverage this funding from HSBC to support its initiatives in product innovation, strategic partnerships and M&A, according to a statement from Labourey.

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