JERUSALEM (Reuters) – Incredibuild Israel, which helps companies accelerate their software development process, said Wednesday it had raised $ 140 million in a private financing round led by U.S. venture capital and private equity firm Insight Partners.
The funding will help expand Incredibuild’s U.S. operations to meet fast-growing demand for its software development acceleration technology, the company said.
Founded in 2000, Incredibuild says their technology can cut time for marketing and reduce computing costs by up to 30%. The company posted a 55% increase in revenue over the past year as businesses seek to build and roll out software upgrades faster.
More than 800 Incredibuld customers include Microsoft, Amazon, Citibank, Barclays, Adobe, Disney, Intel, Samsung, EPIC Games, and Nintendo. Customers use Incredibuild technology to accelerate the development cycle, from code compilation to testing to automated release, the company said.
Israel Private Finance Fund bought Fortissimo Capital Fund Incredibuild in 2018.
Reporting by Steven Scheer; Edited by Rami Ayyub