Gearset secures £45m from Silversmith Capital Partners to scale international operations and product offerings.
Silversmith Capital Partners led the funding round, which represents the firm's first external capital raise.
Gearset provides a comprehensive DevOps platform designed to streamline release management and deployment workflows for Salesforce teams. The company supports thousands of enterprise clients by automating testing, backups, and metadata monitoring.
Cambridge-based software provider Gearset has secured £45m in outside capital from Silversmith Capital Partners to expand its operations. The transaction marks the first time the company has raised external funding since its inception six years ago. The capital injection will be directed towards scaling the team across the US and UK markets, broadening the product portfolio, and driving wider adoption of DevOps practices among enterprise low-code teams.
Founded by Kevin Boyle and Matt Dickens, the company has scaled profitably while servicing prominent clients including IBM, Accenture, and Johnson & Johnson. Silversmith Capital Partners led the financing round, with firm general partner Sri Rao joining the board of directors. The funding follows a period of rapid expansion that saw the firm nearly double its annual recurring revenue and open new offices in Belfast and Chicago.
From the founder
"When we started Gearset, DevOps was largely the province of highly technical software teams, and we wanted to change that. Over the last six years, we’ve focused unrelentingly on making our users successful, and built a product that solves the hard problems in Salesforce DevOps, while being easy to use for teams of all technical backgrounds. In doing that, we’ve grown way faster than we could’ve imagined, and today some of the biggest, and most impactful, companies on the planet rely on Gearset. Many enterprises are still early in their digital transformation, and we’ve got a huge opportunity to help them realize the benefits of DevOps as they increasingly rely on low code solutions,"
Kevin Boyle
CEO and co-founder at Gearset
Investor perspective
"We are passionate about partnering with entrepreneurs like Kevin and Matt who have lived their customer’s pain points and are compelled to solve them through technology-driven solutions,"
Sri Rao
General Partner, Silversmith Capital Partners
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
- 03Grow the team
- 04Expand into international markets
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