Seattle-based DevOps automation software provider Chef, formerly known as Opscode, revealed Sept. 9 that it has closed a $40 million Series E funding round.
The initiative was led by DFJ Growth and includes Millennium Technology Value Partners in addition to all of its existing investors. These are Battery Ventures, Citi Ventures, DFJ, Ignition Partners, and ScaleVP.
Hewlett Packard Ventures also joined the round with a strategic investment, the company said. This new funding will enable Chef to continue to develop its position in the DevOps market by expanding the company's operations globally and accelerating product development amidst surging customer demand, the company said.
Chef said its business is growing exponentially with annual recurring revenue growth accelerating as the company scales. More than half of the Fortune 50 use Chef and 80 percent of Chef's revenue comes from enterprise businesses, the company said.
Chef is among the pioneers in DevOps, a cultural and professional movement underpinning the digital transformation of enterprise IT.
Enterprise IT is now all about automation. With new-generation code and apps bringing us into the age of converged infrastructures and cloud computing, enterprises with legacy systems are challenged with keeping up with the complexities that come with these new environments. As a result, DevOps (a mashup of the terms "development" and "operations") has come to the fore as a new business process aimed at overcoming complexities that IT, systems admins and developers face on a daily basis.
Chef is recognized as the standard automation platform for the DevOps workflow, with companies including Facebook, GE, Target, Bloomberg, Nordstrom, Gap, IBM, Yahoo, and Intuit, among more than 750 customers using Chef to accelerate software delivery and reduce operational risk.
AWS, HP, and Microsoft, which on Sept. 9 made Chef available in its Azure Marketplace, have all joined Chef's go-to-market efforts.
"Chef is at the center of a fundamental shift in IT as enterprises race to change how they build and deploy software to become high velocity organizations," said DFJ Growth Principal Sam Fort. "Chef has become the leading platform for enabling this transition."
Chef recently introduced Chef Delivery, an extension of the Chef platform that enables full-stack continuous delivery of infrastructure, runtime environments – including containers – and applications.