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GitLab raises $20 million to enhance open source repository

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GitHub rival GitLab has announced its $20 million Series B funding from investors August Capital, Khosla Ventures and Y Combinator. The new investment is aimed to enhance the open source repository and emerge as a collaborative platform for all key developments.

The fresh funding comes a year after GitLab raised $4 million in a Series A round from Khosla Ventures. The San Francisco-based company has so far raised a total of over $25 million.

“With the help of our investors, we are moving full speed ahead to bring you issues, wikis, code review, Continuous Integration, Continuous Deployment and Continuous Delivery into a single user interface (UI),” said Sid Sijbrandij, founder and CEO of GitLab, in a blog post.

Since its launch through Y Combinator in 2014, GitLab is serving more than 100,000 organisations worldwide that together host over a million projects on its online repository.

Sijbrandij stated that open source is the key to success for GitLab. “Developers are looking Git and open source for solutions to deliver higher quality software, faster. In fact, 18 million developers now use open source for their corporate infrastructure and 30 percent of enterprise developers are using Git,” he added.

In August, GitLab launched its Issue Boards to offer developer teams an easy way to manage their release and deployment process. The company also brought features like merge conflict resolution to take on GitHub and other similar repositories.

Apart from the free community edition and SaaS version, GitLab offers a paid enterprise edition at $39 per user per year. There is also a premium support and GitLab Tile for remote teams. All this helps the company generate some revenue.