On behalf of our global Incredibuild family, I’m excited to announce that today marks the closing of an investment of $140 million, led by ScaleUp investor Insight Partners, a venture capital and private equity firm responsible for some of the most outstanding and intriguing deals in tech in recent years.
This investment, which includes both primary and secondary components, makes Insight Partners the majority stakeholder alongside Fortissimo Capital.
Incredibuild first met Insight Partners in 2003. The chemistry was already there. Over the years, the firm maintained its connection with us. In 2018, when Fortissimo Capital acquired the company, the connection materialized into an opportunity.
In its 20+ years of existence, Incredibuild never relied on external funds.
We simply didn’t need it. Our Incredibuild product has been profitable from day one. We managed to scale at an organic and sensible pace.
In the past year, we have reached a conclusion that—as strong as our technology has grown to be—the need for it is increasing massively. And more so in industries we never imagined it would.
We were ready to take the next step in our evolution.
Why This Investment Is the Natural Next Step for Incredibuild
Accelerating development cycles is no longer a nice-to-have option for the individual C++ developer. It’s a make-or-break practice for the entire enterprise.
Companies rise and fall on time-to-market. And as more organizations today adopt sustainable solutions that prevent them from maxing out the headcount or hardware-count, the need for virtual distribution and cloud solutions becomes acute.
We hear about this need every single time we hop on a call with a prospect or a customer. And we’ve been very fortunate to guide top brands as they rise on time-to-market.
And this is a pivotal point for Incredibuild.
To deliver on our promise, to put our customers in the absolute center of everything we do, we have to work in numerous directions simultaneously, catering to multiple verticals while leaving room for errors. Because in order to grow, you must learn.
As our product stays agile while harnessing build parallelization, we also need to work in parallel—utilizing M&As, defining solutions to more use cases, and doing whatever is necessary to seize the market.
It’s the only way we ensure growth at a turbocharged pace.
How We Will Use This Investment
I made a bold prediction in early 2020 that Incredibuild’s technology would become the most significant driver for software-first companies. This happened several months before COVID hit, and I can whole-heartedly say that the past year has proven that prediction was correct.
As dev teams worldwide mark a year of WFH, we see substantial demand for Incredibuild’s solution even in a challenging business environment. During my year (and change) as captain, one thing has remained clear: In fiercely competitive markets, top-quality frequent releases are vital.
With the new funding, Incredibuild is poised to expand the market opportunity, enabling our existing and future customers to maintain their competitive edge. With cloud adoption being paramount, we plan to further scale and evolve our software development acceleration solution for R&D teams and release managers in verticals such as finance, gaming, and the growing AR and VR markets. Each additional member will contribute to smart productization, geographic expansion, and our ongoing commitment to our customers.
Our rapidly-growing team almost doubled itself in less than eight months. But we’re only just beginning. Product, R&D, Sales & Marketing, and especially our US presence – all will expand. And though the team will increase in size, we will still operate as an elite commando unit.
It’s the Incredibuild way.
A Force Called: Fortissimo
When I joined the company, Incredibuild was still the dev community’s best-kept secret.
Most C++ developers used it at some point in their careers, but it was so ingrained in the compilation process that only a few knew it’s there.
I cannot talk about our climb to center-stage without naming the main contributors – Fortissimo Capital. They were the first to detect a diamond in the rough called Incredibuild.
And they helped us polish this diamond to its current shining condition.
Fortissimo Capital remains a substantial owner of Incredibuild. The cooperation with Insight Partners will help us unleash our full potential in this fascinating journey to support as many organizations through various dev processes.
Turbocharging the Future – Together
I couldn’t be more proud of all the hard work that has led us to this milestone. Over the past year, we’ve grown revenue by 55%, increased our headcount by 100%, and strengthened partnerships with industry leaders such as Microsoft Visual Studio, Azure, AWS, Qt, and more.
But the real secret behind our success is our customers. We are fortunate to have been working with leading brands from across the world.
I want to take a moment to thank our customers for their trust and feedback. Through your use of our solution, we learned so much about its potential. Over two decades, you became real partners in our quest to turbocharge development cycles. Thanks to your invaluable input, we can offer the dev community robust technology that is a staple. We built an engine – you developed the product.
I would like to thank our amazing Incredibuilders for their tireless dedication to building not only a stellar solution but also a one-of-a-kind family. No matter how long we’ve been in the company or where we reside (USA, Israel, China, Japan, Ukraine) – we’re all carved from the same IncreDNA.
I’m proud to work alongside such inspiring professionals.