Docker, Boasting 'Amazing Traction,' Tops $150M in Funding
Docker's CEO explains why the open-source Docker container technology is taking off, and why he's raising more money.Docker Inc., the lead commercial sponsor behind the open-source Docker container application virtualization technology, today announced that it has raised $95 million in a Series D round of funding, bringing total funding for the company to $150 million. The new round of funding, led by Insight Venture Partners and including the participation of Coatue, Goldman Sachs, Northern Trust, Benchmark, Greylock Partners, Sequoia Capital, Trinity Ventures and Jerry Yang's AME Cloud Ventures, builds on Docker's $40 million Series C round of funding that was announced in September 2014 and a $15 million Series B round announced in January 2014. Docker is a 2-year-old technology that enables application virtualization using a container model. As to why Docker is now raising new money, Docker CEO Ben Golub said that his company doesn't really the need the money for current operations as he's still spending the money from the Series B round. "What we're seeing is amazing traction and growth, and we're seeing huge uptake in the enterprise, so we wanted to make sure we had plenty of powder at the ready to go after this great opportunity," Golub told eWEEK. Of particular note in the new funding round is the participation of Goldman Sachs. Goldman Sachs, as well as other large financial institutions, has been experimenting with Docker and sees great potential for its use, Golub said. He added that Goldman Sachs has also been evangelizing the use of Docker throughout the financial services community.
From an overall business perspective, Golub said there has been tremendous adoption and enterprise use of Docker since the Series C round was announced, with more growth likely as new products become generally available. In December 2014, Docker first announced the beta of Docker Hub Enterprise, an on-premises private version of the Docker Hub repository, which is a cloud-based service for Docker apps.