AutoRABIT Gets $26 Million Series B For Salesforce Devops and Cybersecurity Push
In the first Salesforce devops funding event announced in 2022, AutoRABIT, a leading Salesforce devops platform vendor now based in San Francisco, this week secured a $26 million Series B investment from existing growth investor Full In Partners. This makes a total of $53 million in announced equity investments since 2020.
The company says it intends to double-down on a cybersecurity-first push into the Salesforce devops market. “As AutoRABIT continues to grow, this investment will enable us to deliver even more value to our customers through an enhanced set of DevSecOps tools that will complement our existing suite of technologies,” said Meredith Bell, CEO of AutoRABIT in a press release.
AutoRABIT Pushes Cybersecurity
While they are a leading Salesforce devops platform, AutoRABIT prefers to classify itself as a leading DevSecOps platform. That is because they have integrated developer cybersecurity directly into their platform with their Codescan acquisition from last year. Over the last year, they have shifted their marketing to emphasize the need for integrated cybersecurity tools.
AutoRABIT says they will continue to build products for customers who want to deal with cybersecurity concerns found in Salesforce devops. “The capital we’ve raised with this new funding round will enable us to continue developing product capabilities to meet the security and regulatory compliance needs of our customers, while enabling them to develop faster and release more features to their own customers and stakeholders,” added Mr. Bell in the press release.
Putting cybersecurity first distinguishes AutoRABIT from its competition. Most Salesforce devops platform providers require users to integrate developer cybersecurity services separately. Copado and DigitSec, on the other hand, do offer a direct vendor integration for code scanning and more advanced cybersecurity services.
Slow Start to 2022 Investing
This AutoRABIT investment is notable because it is the first Salesforce devops investment announced in 2022. That left the first quarter of 2022 with zero announced investment activity. That is quite a dip from the frenzied pace of Salesforce devops funding in 2021, where $275.5 million in investments were announced.
The Salesforce devops investor slowdown is partly inspired by a 40% drop in public devops stocks. So, AutoRABIT’s ability to raise capital in this current environment shows that investors like what they see and believe that Salesforce devops is a growing market.